Tesla's (NASDAQ:TSLA) stock saw a significant uptick of nearly 6% on Monday, closing at $209.38, as a prominent Wall Street brokerage added the electric vehicle giant to its watch list.
This move comes ahead of Tesla’s upcoming quarterly production and delivery report scheduled for Tuesday.
If the stock price maintains its current level, Tesla’s market value could see an increase of $36.68 billion, marking its fifth consecutive session of gains.
On Monday, Wells Fargo added Tesla's to its "Tactical Ideas" list, which features stocks believed to offer significant upside potential in the near term.
However, the brokerage maintained an "underweight" rating on the stock.
For the upcoming production and delivery report, analysts predict that Tesla will report a 6% decrease in vehicle deliveries for the April to June period compared to the same quarter last year.