Tesla rally finds a new gear
Jefferies boosts its price target to $600 from $400 as it points to the ability for Tesla to add sales in the power storage and third-party battery sales businesses.
“We think it would be wrong to exit Tesla on valuation given that: it is the only [automaker] engaged in a positive-sum game in [electric vehicles] amid rising market acceptance,” advises Jefferies analyst Philippe Houchois.
Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.