Tesla Hits New High, Musk Becomes World's Richest at $400 Billion Net Worth

Last week, Bank of America raised $Tesla (TSLA.US)$ 's target price by 14%. Longtime skeptic Craig Irwin upgraded the stock to Buy, raising his target to $347. This week, Morgan Stanley hiked its target by 29%, while Goldman Sachs raised it by 38%.

Tesla shares surged nearly 6% on Wednesday. Musk, whose wealth is three-quarters tied to Tesla stock and options, set a new record as the world's richest person.