Tesla Motors Inc. shares soared to a new high on July 1, 2013, after an analyst almost doubled her price target for electric car maker and raised estimates of its 2013 deliveries. The carmaker’s shares jumped 9.2 percent, or $9.82, to close at a record $117.18 in NASDAQ trading on July 1, 2013, after making a high of $117.77 per share earlier in the day.
Tesla’s shares more than tripled this year through June 28, 2013, compared with a 13-percent jump for the Russell 1000 Index. The hike in Tesla’s shares came after Elaine Kwei, an analyst for Jefferies Group, raised her price target on the Palo Alto, Calif.-based company from $70 to $130 and increased her estimate of 2013 Tesla output from 19,800 Model S sedans to 21,500.
Kwei also raised her expectations for Tesla's production in the second quarter of 2013 from 4,500 to 5,000. Kwei wrote that despite the “massive run in the stock,” they believe that TSLA – Tesla’s ticker symbol -- is one of the “best growth stories in the market today and still has upside.”
She cited higher Model S sales and better profit margins as among "potential positive catalysts." Tesla's shares have jumped this year after the carmaker posted its first profit and after it repaid a $465-million federal loan nine years ahead of original payment schedule.
Considered as an evolution in the field of automotive engineering, the new Tesla Model S molds performance, safety and efficiency into one luxury electric sedan that boasts of gaining the highest possible safety ratings as well as the longest range of any electric vehicle. Not only that, the new Tesla Model just keeps getting better thanks to over-the-air software updates.
The new Tesla Model S is considered as one of the safest cars on the road today. Its safety nature is thanks to many factors, and one of them is the carmaker’s unique architecture. This platform allowed the new Tesla Model S to have its battery positioned on the floor and its distinct electric drivetrain located beneath the electric car. These configurations gave the Model S an extremely low center of gravity, which in turn minimizes the risk of rollover while enhancing handling and performance.
Moreover, the fact that the Model S has no engine means its crumple zone is larger than other performance sedans, thereby helping better absorb the energy of a front end collision. Additionally, the new Model S comes standard with a number of active safety features like automatic emergency braking, blind spot detection, collision warning and lane departure warning. It could also be fitted with optional convenience features like autosteer, autopark, summon and traffic-aware cruise control.
Thanks to all these safety elements, the new Model S was able to earn the highest ratings from the NHTSA and the Euro NCAP. It also offers lowest likelihood of injury to occupants following tests in the United States.