Tesla tops $1 tn in market value as Hertz deal fuels latest surge

Tesla CEO Elon Musk at the 2019 unveiling of the new Tesla Model Y in Hawthorne, California

Leading analysts at Morgan Stanley upped their target on Tesla to $1,200 from $894, pointing to the company's "extraordinary" revenue in the last quarter despite supply chain problems

Tesla became the latest US tech giant to hit $1 trillion in market value Monday as investors cheered a large order from Hertz and shrugged off criticism from a US auto safety official.

The surge followed an announcement from rental car giant Hertz of an order to buy 100,000 autos from Tesla by the end of 2022 in the latest embrace of electric car technology by a mainstream auto player.