The firm noted the high level of activity at the facility, including European and Asian suppliers who worked closely with Tesla engineers. Tesla bears have argued that supplier problems could weigh down the stock.
Global Equities said Tesla could hit $385 in the next 12 to 18 months.
The stock also rose amid reports Tesla would construct a supercharger station in the Sierra Nevada, north of Lake Tahoe along Interstate 80.
Furthermore, Tesla CEO Elon Musk responded to a full-page advertisement from customers who wanted some changes to the Model S vehicle. Musk tweeted that some of the changes would be "implemented soon." The ad in the Palo Alto Weekly called for blind-spot monitors, bigger touch-screen areas to answer phone calls and moving the cup holder forward.
The stock was up 2.04% to $262.02 at 11:45 a.m.
Separately, TheStreet Ratings team rates TESLA MOTORS INC as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins."