Shares of Tesla (NASDAQ: TSLA) surged higher on Monday, rising more than 13% by the time the market closed. During after-hours trading, shares moved even higher to levels above $1,430. The stock's big boost came after an analyst released a bold 12-month price target for the stock: $1,500. Highlighting how staggering this target is, shares were trading at $230 just one year ago.
Is Tesla stock really a buy at this level? Here's a closer look at why this analyst is so bullish -- and what investors should think about the growth stock today.
Model 3. Image source: Tesla.