Tesla (TSLA) shares soared nearly 6% to close at an all-time high of $424.77 Wednesday, marking the stock's first record c💛lose in three years after six straight days of gains.

The gains came Goldman Sachs analysts raised their price target to $345 from $250, though that would represent a steep discount from Tesla’s record closing price Wednesday. The analysts warned Tesla could face “fundamental headwinds to the core auto business,” but said the company could gain from long-term opportunities related to full-self driving cars and robotics as a potential beneficiary of the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) boom. 

The Goldman target bump for Tesla comes after Morgan Stanley analyst Adam Jonas 澳洲幸运5官方开奖结果体彩网:increased his price target for the automaker to $400 from $꧑310 Tuesday morning a꧂nd affirmed it as his "Top Pick."

Tesla Stock Soars Since Trump’s Election Win

Tesla shares have surged over 70% this year, with most of those gains coming 澳洲幸运5官方开奖结果体彩网:since Donald Trump's reelection amid hopes CEO Elon Musk's close ties with the President-elect could benefit the company. Musk, who appeared at Trump events prior to the election, was recently tapped to co-lead the newly proposed 澳洲幸运5官方开奖结果体彩网:Department of Goveওrnment Efficiency (DOGE).

Some analysts have said they believe Tesla could benefit if the new administration 澳洲幸运5官方开奖结果体彩网:e💎nds the B♎iden-era $7,500 EV tax credit, given the company's longer history than competitors of making profitable EVs, but Trump's pro-tariff stance may hit Tesla's China sales.

UPDATE—Dec. 11, 2024: This article has been updated to reflect Wednesday's record close marked the first for Tesla’s stock in three years.