Published: Wed, April 05, 2017
Business | By Cristina Jennings

Tesla Inc (TSLA) Price Target Raised to $425.00

Tesla Inc (TSLA) Price Target Raised to $425.00

Stock movements after the monthly sales reshuffled the hierarchy among USA companies, with Tesla Motors overtaking Ford for the number two spot and closing the gap with GM, the biggest USA automaker by market capitalization. Musk tweeted some shade at Tesla detractors Monday after the electric auto company reported solid first quarter sales on Sunday.

In the same four years, Tesla went from $18 billion in market capitalization to $49 billion thanks to its sales, which grew from $2 billion to $7 billion.

While Ford delivered about nine times as many vehicles in just the United States last month, its sales missed projections and its shares fell.

Now the shares of Tesla Motors, Inc.

Tesla announced Friday, March 17 have managed to raise $ 1.2 billion through an issue of bonds convertible to common shares. Zacks Investment Research upgraded shares of Tesla from a sell rating to a hold rating in a report on Tuesday, February 28th. He also feels that if the company reaches volume production on the Model 3 this year, then next year is all that matters for Tesla stock.

What's Driving Tesla Faster than Ford?

But investors seem excited about Tesla's upcoming Model 3 vehicle, which could help make Tesla a more mainstream auto company instead of just a luxury electric vehicle maker.

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Besides GM, BMW (worth just over $US55 billion), Daimler (worth just over $US73 billion), Honda ($US54billion), VW, ($US72 billion) and the mighty Toyota ($US160 billion) are ahead of Tesla globally so far as market value is concerned.

While the company has been plagued by delays in the past, a recent run of positive performances has seen Tesla shares gain more than 22 per cent in the past year. It is being predicted that Tesla will be able to sell nearly 500,000 vehicles a year by 2018.

Investors are betting Musk can deliver on ambitious growth targets pegged to the mass-market Model 3 to roll out later this year, which is to retail for about US$35,000.

Analysts are evenly split: the Wall Street Journal counts seven analysts recommending investors reduce their Tesla stock, seven analysts recommending an increase, and nine analysts telling investors to hold onto it for now.

As a result, the shorts are covering today and the stock price is up $19 or 6.84%. The shares were purchased at an average cost of $262.00 per share, with a total value of $25,000,040.00.

Yesterday Tesla became more valuable than Ford, despite never having turned a profit. "Nobody thinks Ford or General Motors is going to do that".

Tesla sold about 40,697 vehicles in the U.S. previous year, according to an estimate by researcher IHS Markit.

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