NEW YORK (TheStreet) –– Tesla Motors (TSLA) has been impressive since coming to the forefront of investors' minds in late 2012, but the opportunity ahead may be more impressive than almost anyone has imagined, so far.
Deutsche Bank analyst Rod Lache upgraded Tesla to "buy" with a $310 price target, noting that the company's growth trajectory "will be much steeper, their mix will be much richer, and their costs will ultimately be much lower than we previously assumed." He's now expecting Tesla to have volumes of 129,000 units in 2017, up from a previous estimate of 83,000. He also expects volumes of 60,000 and 100,000 in 2015 and 2016, up from 51,000 and 60,000, respectively.
Shares of Tesla were rising in early Monday trading, gaining 2.7% to $254.80.
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