The stock is up 5.8% at $24.37.
I've never cared for this one, partly because I don't understand how to value it, maybe JPM does.
Tesla shares could reach $50 in 3 years-analyst
Shares of electric carmaker Tesla Motors Inc (TSLA.O) could double to $50 over the next three years, a JPMorgan analyst wrote on Monday, and the stock rose more than 7 percent.
"We continue to believe the majority of the investment community (and the majority of the automotive industry) is substantially underrating Tesla's potential," analyst Himanshu Patel wrote in a research note.
Patel said Tesla shares could reach $40 to $50 in the next three years as the company could eventually become a premium automaker with a full line of vehicles and with a lower cost structure than its rivals.
He noted that Tesla's operating margins could be on par with German luxury carmakers of as much as 9 percent....MORE