Tesla (TSLA) Climbs the Most in 6 Months On Positive Analyst Comments

Shares of Tesla Motors Inc (TSLA) jumped nearly 6% to $232 in midday trading, and as high as $238.75 intraday, the most in almost six months, following a positive note from Deutsche Bank (DB) and Credit Suisse (CS) ahead of Tesla’s anticipated April 30 battery announcement at its design studio in Hawthorne, California.

“While the stationary storage market is still in its infancy, we believe that there are clear indications that significant growth lies ahead,” Deutsche Bank’s Rod Lache wrote [via Bloomberg] in a note to clients. He rates TSLA ‘Buy’ and has a $245 price target. Meanwhile, Credit Suisse’s Dan Galves said that the storage battery business could add $35 to $40 to Tesla’s PPS.

Tesla Motors, Inc., currently valued at $29.29 billion, has a median Wall Street price target of $275.00 with a high target of $400.00. About 10.7 million shares have exchanged hands as of 3:18 p.m. ET today, compared to its average trading volume of about 5.06 million shares a day.

In the past 52 weeks, shares of Palo Alto, California-based electric car maker have traded between a low of $177.22 and a high of $291.42 with the 50-day MA and 200-day MA located at $200.20 and $216.44 levels, respectively. Additionally, shares of TSLA trade at a P/E ratio of 4.07 and have a Relative Strength Index (RSI) and MACD indicator of 74.77 and +11.11, respectively.

TSLA currently prints a one year return of about 5% and a year-to-date loss of around 2%.

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