More people are buying electric cars than analysts had expected, prompting the team at Goldman Sachs to raise its price target by 71% for billionaire Elon Musk’s Tesla.

The US investment bank hiked its price target for Tesla’s shares from $455 to $780, upgrading its rating on the stock from “neutral” to “buy” in a note on 2 December. The upgrade makes Goldman the most bullish bank on Tesla, according to data from MarketScreener.