Published on February 28th, 2014 | by James Ayre3
Tesla Stock Hits New High Of $264 A Share — Thanks To Report On Gigafactory
Tesla’s stock has exploded upwards once again, climbing up to about $264 a share at about 10:00 am on February 26th — that’s a climb of over 15%, and only a week or so after a separate large percentage jump.
The most recent big boost that the stock received is largely down to all of the talk going around about Tesla’s soon-to-be-built Gigafactory, and a report that the market analysts over at Morgan Stanley released about that.
The expectations expressed in the report are very optimistic — anyone who trusts the judgement of the authors would be hard-pressed not to invest further, given the great potential for further growth that is noted.
AutoblogGreen provides more details about the report:
Authored by analyst Adam Jonas, the document looks forward to a Utopian future (around 2026, for those anxious for such a thing) where it is predicted that Tesla will enjoy a commanding share of both the battery and autonomous automobile market, and its revenues will be sixty times that of today. Sixty times. That’s a pretty sunny outlook. Not incidentally, the financial services company also has doubled its target price for TSLA, from $153 to a nice, round $320.
That rosy outlook report is not necessarily the only thing filling the sails of the California automaker today. Consumer Reports has also added to the momentum, naming the Tesla Model S its best overall top pick for 2014. And now we hear that Panasonic and some partners are interested in investing almost a billion dollars into Tesla’s new gigafactory.
It’s of course hard to say exactly what will happen when talking about something as volatile as stock prices, but, that said, it does look as though Tesla has placed itself on a solid course for growth, one that will likely make the company’s stock continue to appear as a strong choice for investors.