Speed Barrier
Putting the Brakes on Tesla's Latest Upgrade
The stock hasn't done well after hitting analyst targets in the past.
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Tesla Motors Inc. is on a tear Thursday morning, owing to an analyst upgrade from long-time bull, Morgan Stanley's Adam Jonas.
Jonas has been encouraged by, among other things, Tesla CEO Elon Musk's appointment as a strategic advisor to President-elect Donald Trump, as well as growing evidence of electric vehicles entering the mainstream, at least when it comes to strategic planning in the wider auto industry. Above all, Jonas now forecasts Tesla will sell 183,000 units of its forthcoming mass-market Model 3 car in 2018. That's up from a prior forecast of 114,000, though still far below Tesla's stated target of 500,000. Nevertheless, higher Model 3 estimates for 2018 and beyond add $81 to Jonas's price target, taking it from $242 to $305.