Tesla has just become the most valuable American automaker in US history. Today’s market movement saw Tesla Motors, backed by the infamous Elon Musk approach the $500 mark, despite all of the naysayers. Analysts are falling behind on their coverage on Tesla and have failed to adjust their research to reflect recent events. Even former GM CEO Bob Lutz, who has been historically very critical of Tesla’s business model said that ““Tesla is finally being run like a normal business,” as it produced a surprise third quarter profit and started delivers this week from it’s Chinese plant. Argus Research, Morgan Stanley and Canaccord Genuity are the only Analysts that have targets above the trading price of $492 at $556, $500 and $515 respectively. Cowen is lagging the pact with a $210 target, and a underperform rating. Current technical readings are suggesting Tesla has a bit more room to run, likely eclipsing the $500 mark.
For our Full Detailed Research Report on Tesla:
STA Research: STA-TSLA-2020-01-09
