This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tesla Takes Off on Jefferies Upgrade

NEW YORK ( TheStreet) -- Tesla (TSLA) shares jumped 7.57% in afternoon trading Monday after analysts at Jefferies gave the stock a ratings boost.

Shares briefly hit a high of $116.20 in early trading before sliding back to $115.40.

Jefferies analyst Elaine Kwei raised her estimates on the stock based on higher-than-expected Model S deliveries.

"We believe there is likely upside to prior 2Q guidance for deliveries of 4,500 units, as well as 2013 guidance of 21,000 units," she said in a report.

Kwei generously boosted the price target to $130 from the previous $70, based on a 10-year discounted cash flow. She estimated that the innovative automobile company has consumed about 9% of the market share in the U.S. full-sized luxury sedan market.

The leap will add to Tesla's impressive run this year, as the stock has risen just over 240% year to date.

Kwei maintained a "buy" rating on the stock of the Palo Alto, Calif-based company, which will release earnings on July 22.

-- Written by David Webster in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $118.60 -2.20%
FB $93.42 -0.63%
GOOG $627.59 0.32%
TSLA $259.16 -2.60%
YHOO $36.57 -0.27%

Markets

Chart of I:DJI
DOW 17,517.09 -172.77 -0.98%
S&P 500 2,090.24 -13.60 -0.65%
NASDAQ 5,096.4420 -31.8390 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs