Tesla bear is forced to hike price target after rally, but still expects a 25% drop

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Tesla bear is forced to hike price target after rally, but still expects a 25% drop
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Credit Suisse significantly raised its price target for Tesla shares but the new expectation still represents a drop from current levels.

Yuriko Nakao | Bloomberg | Getty Imagesshares on Tuesday, but the firm's new expectation still represents a nearly 25% stock drop for Elon Musk's company from the current levels.

The firm increased its price target on Tesla to $340 a share from $200 a share, while maintaining its underperform rating on Tesla.

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