Adding fuel to Tesla's historic Wednesday jump was a price target increase by Wedbush analyst Dan Ives, a known Tesla bull. It was also helped by Tesla settling a lawsuit that paves the way for it to open service centers in Michigan. Tesla sued Michigan in 2016 in a bold challenge to the state's 2014 law, which says carmakers can only sell through independent, franchised dealers and not directly to customers. The company called this law unconstitutional.