Tesla (TSLA) Motors Higher on Earth-Shattering Prediction
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Price: $396.18 +0.36%
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 15 | New: 25
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 15 | New: 25
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Shares of Tesla Motors, Inc. (Nasdaq: TSLA) are surging in pre-open trade Thursday following an aggressive call from analysts at Morgan Stanley.
The firm upgraded shares of the maker of electric vehicles to Overweight and set a $70 price target, representing almost 200% upside from Wednesday's close.
And that was not it. The analyst said under a bull case shares could rise to $135, or 460 percent upside.
The firm contends that Tesla will eventually become the 4th major U.S. Auto manufacturer behind GM, Ford & Chrysler.
"We believe the market for xEVs (plug-in-hybrids or PHEVs and pure EVs) is underestimated as rising oil prices and government support accelerate the shift away from the internal combustion engine. This shift has made room for entirely new players to join the ranks of currently entrenched OEMs, and has afforded Tesla the opportunity to establish itself as America's fourth automaker. The biggest risk remains Tesla’s own execution of its plan."
Shares of Tesla last traded at $27.50, up 16 percent.
The firm upgraded shares of the maker of electric vehicles to Overweight and set a $70 price target, representing almost 200% upside from Wednesday's close.
And that was not it. The analyst said under a bull case shares could rise to $135, or 460 percent upside.
The firm contends that Tesla will eventually become the 4th major U.S. Auto manufacturer behind GM, Ford & Chrysler.
"We believe the market for xEVs (plug-in-hybrids or PHEVs and pure EVs) is underestimated as rising oil prices and government support accelerate the shift away from the internal combustion engine. This shift has made room for entirely new players to join the ranks of currently entrenched OEMs, and has afforded Tesla the opportunity to establish itself as America's fourth automaker. The biggest risk remains Tesla’s own execution of its plan."
Shares of Tesla last traded at $27.50, up 16 percent.
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