Tesla shares jumped to $120.25 on July 17 on another analyst note

Article by Anita Panait, on July 19, 2013

Shares at Tesla Motors Inc. climbed 10 percent to $120.25 at the close of trading on July 17, 2013, after Andrea James, an analyst for Dougherty & Co., hiked her price target for Tesla from $90 to $200 in a report. This came after the carmaker’s shares dropped 14.3% percent to $109.05 on July 16, 2013, after Goldman Sachs analyst Patrick Archambault set a price target of $84 for the company’s stocks.

Archambault wrote in a note that Tesla’s shares could decline to $84 and $113 under a best-case scenario. Goldman Sachs likewise trimmed its auto sector rating to neutral. James wrote that they believe Tesla is a $300 stock at the site’s maximum capacity, but trimmed it to $200 for the “execution risk.”

James also wrote that they believe that Tesla is the only carmaker that has figured out how to make electric vehicle technology work. Tesla posted its first-ever profit in the first quarter profit of 2013, boosted by the increasing demand for its $69,900 Model S sedan.

Tesla is planning roll out a sports utility vehicle next year, to be followed by a compact SUV and smaller sedan.

Topics: tesla, shares

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