I have to admit, Tesla has come a long way from the days of big talk and one lonely roadster that it offered for sale.
But it has climbed past the haters the doubters and the cynics.
I'll admit it, I was a doubter.
But since the Model S reached the market, sales have been surpassing the likes of other luxury mainstays, such as the Porsche Panamera, Mercedes-Benz S-Class, Audi A8, BMW 7-Series, etc. Our friends at Deutsche Bank recently adjusted the equity's target price to $200/share for the following reasons:
“Based on conversations with management and monitoring information available on Tesla owners’ blogs, we believe that the company is on track to modestly outperform Q3 margin expectations,” said Dan Galves, lead analyst for Tesla at Deutsche Bank.
I think that's a pretty safe bet. I mean, jeez, the six-month chart looks like Mount Everest — at least the one good side of Everest, that is. We're pretty sure since the Model S is still a "hot" item it will do well from a sales perspective into Q3.
The real question is can all of this great success continue?
With a niche product like this we've seen rapid success then a decline once all the folks who wanted one got it. THINK: MINI, Smart. The real test will be if the Model S keeps doing blockbuster numbers.
It seems the market is loving it. Today, during intraday trading, shares of Tesla (TSLA) reached an all-time high of $185.83. TSLA closed at $183.39.
I'd say right now is a pretty difficult time to decide if more money should be invested into the stock or if now's the time to start taking some greenbacks off the table. That said, what would YOU do if you were throwing down?
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