By 2026, Tesla revenues could be 60 times what they are, according to a Morgan Stanley stock analyst who is as bullish as it gets on the electric automaker.Between this prediction, and the announcement of the Gigafactory, Tesla stock prices leapt up to $259 and change yesterday, a 15% increase.
Adam Jonas, an analyst for Morgan Stanley, has more than doubled his company’s expectations for Tesla share prices, from $153 per share to $320 per share. Shares have already jumped up following a promising quaterly report, though analysts thinks Tesla’s valuation will keep climbing. This is because Jonas, like many investors, analysts, and bloggers, realizes that the proposed battery Gigafactory could have far-reaching consequences beyond the auto industry.
More than that, Tesla’s dedication to futuristic technologies, like self-driving cars, could put it in a dominant position by 2026 in a market that could amount be absolutely huge. With big-name companies like Apple courting the electric automaker, gushing reviews from Consumer Reports, and billion-dollar deals with Panasonic, Tesla has quickly positioned itself as one of the world’s leading tech companies. Stock prices have settled just under $250 on early morning trading, but it’s obvious Tesla remains a valuable commodity.
If anything $320 per share could be on the low end. Tesla stocks may one day rival those of Apple or Google…and then it becomes a question of who buys whom?
Source: Daily Finance