Tesla Motors Inc.

shares jumped after Morgan Stanley more than doubled its projected price for the stock to $320, saying the electric-car company's bid to disrupt the auto industry may also affect electric utilities.

The shares advanced nearly 14 percent to a record $247.06 at 10:22 a.m. Shares in Tesla, which last week forecast a more than 55 percent increase in deliveries of its Model S sedans this year, have risen almost sevenfold in the past 12 months.

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Tesla Shares Jump After Morgan Stanley Labels It With Disruptor Status

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