The stock closed up $11.19 at $259.32 aand shed a buck in afterhours trade.
From Investors Business Daily:
Tesla Motors' (NASDAQ:TSLA) stock jumped after Deutsche Bank upgraded the electric car maker to buy on views that its "growth trajectory" will top expectations as "additional assembly facilities" boost production to at least 1 million units annually by 2025.
Analyst Rod Lache raised his stock rating to buy from hold and upped his price target to 310 from 220.
Tesla's stock rose nearly 5% in afternoon trading in the stock market today Shares hit a five-month high intraday of 263.74 on Monday. The stock had hit an intraday high of 265 on Feb. 26.
"In the previous versions of our Tesla model, we assumed that Tesla's (production) volumes would increase to 450,000-500,000 by 2019/2020, and that growth would moderate to around 7% per year in subsequent years as the company's further expansion plans were unclear," said Lache in a report. "Through our discussions with Tesla management, it has become increasingly that the company is already pursuing the acquisition of additional assembly capacity. While we do not expect any news on this front just yet, we believe that the announcement of one or two additional assembly facilities is likely (each with capacity in the 200,000-500,000 units) by the time that Tesla launches production of its Model 3 (in early 2017). Consequently, we would be surprised if Tesla targets anything less than 1 million units annually by 2025."...MORE
