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Tesla stock was up 2% in early trading following an upgrade to ‘buy’ from Jefferies with a target of $850 from the previous $700. The stock was earlier rated ‘neutral’ at the brokerage. The new target price is 21.6% higher from the stock’s Friday close of $699.10.

(Bloomberg) -- Oil edged lower as traders grappled with the demand implications of a Covid-19 resurg

Firms are “flush with cash” and spending is at its highest in history, according to investment firmJefferies, which recommended dozens of U.S. and global stocks to play the trend.Jefferies’ capital expenditure — or capex — indicator is “going ballistic,” the bank said in a research note Monday, and there has been a surge in corporate spending on big-ticket goods such as ships, as well as on smaller items like plant equipment.Investment bankJPMorganalso picked stocks set to get a boost from the c