(NASDAQ: TSLA) stock has seemingly gone straight up since the U.S. election. That more than 80% rise has brought it to new all-time highs. Shares jumped another 5.6% today as of 3:25 p.m. ET. And one Wall Street analyst thinks there are good reasons for the recent parabolic move.

Wedbush analyst Dan Ives just released a report in which he raised his price target on the stock by $115 per share. His new target is $515, the highest price target for Tesla on Wall Street. Ives sees the recent run in the stock as being logical based on new circumstances brought by the election of Donald Trump.

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Source Fool.com