Tesla (TSLA) Bull Has $400 Target Price

Tesla Motors (TSLA) stock was a solid mover this session with its shares extending their break out to near 6-month high. The move, which prompted a strong volume with the issue trading more than 6.3 million shares, compared to the average volume of 5.4 million shares, came after Maryland Gov. Larry Hogan signed a bill giving the Palo Alto-based automaker the right to sell its luxury electric cars directly to consumers in the state, starting in October. As the news made its rounds, Tesla shares increased sharply to close more than 2 percent higher to $244.74, but edged even higher in after-hours trading following comments from Stifel’s James Albertine who discussed on CNBC’s “Fast Money” the possibility of TSLA being a $400 stock, implying a further 63% rally from today’s closing pps.

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