Tesla Stock Moves Higher on Bullish Price Target

Tesla Store

In a research note published today, Sterne Agee CRT analysts initiated coverage with a ‘Buy’ rating and target price of $300 on Tesla stock.

The firm cited several reasons for its bullish stance, including a projection of less than $9 billion in revenues in fiscal year 2016, growing to $32 billion by 2019. Additionally, the firm says it sees growth as open ended in the auto and energy markets.

Price Action

Tesla Motors, Inc. (TSLA), currently valued at $31.91 billion, has a median Street price target of $269.00 with a high target of $500. Approximately 475K shares have already changed hands, compared to the stock’s 3-month average daily volume of 5.22 million.

In the past 52 weeks, shares of the maker of luxury electric sports sedans have traded between a low of $141.05 and a high of $286.65 and are now at $220.83, with the 50-day MA and 200-day MA located at $228.37 and $215.88 levels, respectively. Additionally, shares of Tesla trade at a P/E ratio of 5.38 and have a Relative Strength Index (RSI) and MACD indicator of 45.05 and +2.34, respectively.

TSLA currently prints a one year loss of about 12% and a year-to-date loss of around 9%.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.