In the latest report, analysts from Global Equities Research have raised Tesla's target price from $340 to $400, which is over 53% higher than Tesla's recent closing price.

Analysts point out that Tesla's demand is accelerating, mainly driven by the $7,500 point of sale electric vehicle credit, which reduces vehicle prices by an additional $7,500. Analysts point out that consumers see this as an "immediate refund" and are starting to purchase Tesla cars from inventory.

According to a report by Global Equities Research, demand for Tesla cars, especially the Model 3 and Model Y, has been "very strong" over the past two weekends, as the $7,500 price reduction for these vehicles has a strong appeal to consumers.

Global Equities Research states that Tesla has simplified the ordering process by using its own software. From placing an order to processing point of sale electric vehicle credit, reducing vehicle prices, and integrating with the IRS' Inflation Reduction Act gateway, optimizing the entire purchasing process.

The research company pointed out that Tesla's move has won the favor of consumers. Because most dealers selling electric vehicles usually raise prices first and then lower them through point of sale electric vehicle credit, but consumers' don't like these dealers' tricks'.