Tesla Stock Hits New High, Shares Approach $180
Tesla shares continue to climb, rising seven percent yesterday to hit an all-time high for the American electric automaker.
The rise in stock value came after analysts at Deutsche Bank raised its price target for the stock from $160 to $200. The analysts expect Tesla to “modestly outperform” expectations for the third quarter as the American automaker’s production appears to be increasing. Demand for the Tesla Model S also seems to be on the rise in the U.S. and Europe.
SEE ALSO: Tesla Model S Gaining Wi-Fi, Tethering, Paid Data Plans
This year alone, Tesla’s shares have soared more than 400 percent with the company posting its first-ever quarterly profit in May 2013. Recently, CEO Elon Musk began recruiting engineers on Twitter alluding to the fact that Tesla is investing into autonomous vehicle technologies.
[Source: CNN Money]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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