Tesla Stock Jumps After Morgan Stanley Says Share Price Could Hit $400 Due to Dojo Supercomputer

Tesla’s shares jumped Monday after Morgan Stanley analysts upgraded the stock, citing the potential of the supercomputer that Tesla is developing.

The Morgan Stanley team raised their price target on Tesla shares by 60% to $400, from $250, and recommended investors move to an “overweight” holding. The shares were recently up more than 9% and the S&P 500’s best performers.

The team includes Adam Jonas, one of the highest-profile Tesla analysts. The new price target is the most-bullish on Wall Street, according to FactSet data.