Tesla Shares Could Hit $50 By 2013
An analyst with JP Morgan predicted on Monday that Tesla shares could surpass $50 within 3 years, the stock is currently trading at $24.49 after seeing a 7% rise based on the analysts report.
Tesla stock – TSLA – has seen some major upheavals since the company’s IPO in June 2010. The stock’s 52 week low was $14.98 and the high was $36.42, making it a volatile bet that pays off in a big way if you can predict its movements.
“We continue to believe the majority of the investment community (and the majority of the automotive industry) is substantially underrating Tesla’s potential,” wrote analyst Himanshu Patel.