Tesla Motors Inc (TSLA) Stock Gets A Price Target Increase By Dougherty
Tesla Motors Inc (NASDAQ:TSLA), the auto company founded by Elon Musk, has seen their stock price skyrocket over the past year. An analyst at Dougherty & Co. has more than doubled her price target for Tesla Motors. This took place one day after Goldman Sachs said that the stock price may fall.
Yesterday Tesla gained 10 percent to $120.25, which is the biggest one-day increase since May 28. Tesla’s shares have more than tripled this year.
Dougherty & Co. analyst Andrea James raised her price target to $200 from $90. Goldman Sachs said that the shares may decline to $84 as a best-case scenario. Goldman Sachs also dropped the auto sector rating to neutral.
“We ultimately believe Tesla is a $300 stock at the factory’s maximum capacity, which we hair cut to $200 for the execution risk,” said James. “We believe that Tesla is the only firm that has figured out how to make ‘electric vehicle technology ‘work.””
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry