Up $13.18 (4.89%) at $282.88. New all-time high $284.89.
From Forbes:
The Case For Tesla's $400 Per-Share Future
As recently as May, shares of Tesla Motors were trading under the $200 mark — but according to one analyst at Stifel Nicolaus, the stock could easily hit $400 in the foreseeable future, thanks largely to what the firm sees as Tesla’s “defensible niche in the global market for luxury electric vehicles.”...MORE
In a research note out Tuesday, Stifel Nicolaus analyst James Albertine raised Tesla’s rating from a hold to a buy, giving the electric car company a $400 price target, a figure that’s more than $100 higher than its current $282 per-share price and double what the stock was trading for just this past May. Albertine also raised Tesla’s 2017 earnings per share estimate from $6.14 to $8.28, citing increased Model X pricing assumptions, “modestly” increased Model S/X output and a 33% non-GAAP gross margin.
As for the impetus for the bullish note, Albertine pointed to a recent visit to a Tesla production facility that seemed to indicate an 800-unit per-week production rate that will only increase in the coming months.
“We recently hosted a tour of Tesla’s production facility in Fremont, CA, where it appeared the company remains on track (if not ahead of plan) to achieving a 1,000 unit per week production rate by year-end 2014,” he wrote Tuesday. “Simply put, the rate of change versus our last tour (May 2013) was staggering.”...
