Tesla Inc (NASDAQ: TSLA) shares are on the rise again after Goldman Sachs resumed coverage of the electric automaker on Tuesday evening.The Tesla ThesisGoldman Sachs analyst Mark Delaney resumed coverage of Tesla's stock with a Buy rating and an $864 price target."We are positive on Tesla because we believe that the company has a significant product lead in EVs, which is a market where we expect long-term secular growth," Delaney wrote in a note.Delaney also said that compared to other auto and tech companies, Tesla is attractively valued given its revenue growth.TSLA Price ActionThe stock is off to a hot start this week after closing Monday's session higher by 13%.Tesla's production in the United States has been hampered due to the coronavirus pandemic, but the company has resumed work at its China factory. Reuters reported over the weekend that Tesla started sales of another two Model 3 sedan made at the Shanghai site in China.Tesla's stock closed Tuesday's regular session at $709.89 per share, up 9%. The stock added another 5.16% in the after-hours session following the news of Goldman's new rating, trading around $746 per share at the time of publication.Related Links:Tesla Striving To Cut Costs By Seeking Rent Relief As Coronavirus Affects BusinessTesla Furlough Has Hit New Workers In Delivery And Sales The Worst: ReportLatest Ratings for TSLA DateFirmActionFromTo Apr 2020Credit SuisseUpgradesUnderperformNeutral Apr 2020JefferiesUpgradesHoldBuy Mar 2020Piper SandlerMaintainsOverweight View More Analyst Ratings for TSLA View the Latest Analyst Ratings See more from Benzinga * A New Arsenal? Trump Greenlights US Automakers To Produce Ventilators, Other Metal Products(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
