Tesla Inc.'s stock passed the $ 500 mark on Monday. This is the latest in a series of flood brands that have led the stock to increase the S&P 500 index more than tenfold in the past three months.
Monday's rally was fueled by Oppenheimer analysts, led by Colin Rusch, who raised his price target for Tesla
TSLA, + 8.07%
nearly 60% to $ 612 vs. $ 385 due to the company's "disruptor" properties.
Tesla shares have risen 103% in the past three months, the S & P 500
SPX, + 0.50%
The stock was trading as high as $ 505.37 on Monday, surpassing its record high of $ 492.14 on Wednesday before the rally took a two-day break after some downgrades.
“We believe that (Tesla) has key advantages in terms of drive train design, battery technology, fleet size (driver assistance systems), energy independence and consumer enthusiasm, which translate into significant leverage for operations, profit sharing and market disruption As the trends in the area of renewable energies and autonomy are accelerating, the Oppenheimer analysts write in a note.
"We expect the volatility of the stock to continue while increasing profits many times over to reflect the higher AI / disruptor characteristics."
Oppenheimer's new price target is the second highest of the 32 analysts surveyed by FactSet, after the USD 734 price target set by Elazar Advisors analyst Chaim Seigel.
Last week, Argus Research analyst Bill Selesky raised its Tesla stock price target to $ 556, saying fourth-quarter deliveries were better than expected, Tesla proxy for sales, Model 3 popularity, and the sustained Model S and Model X sales growth. Selesky held a buy rating for the stock.
Credit Suisse analysts raised their share price target last week from $ 200 to $ 340. Although the new target price is significantly below the current share price, "there are several options for Tesla to grant loans," said the analysts at Credit Suisse. "Even with all of these Tesla stocks seems rich," they said. The analysts led by Dan Levy maintained the share's sales rating.
Tesla's outperformance over the S&P 500 shows a 12-month snapshot of Silicon Valley automaker's shares up 45% over the period, compared to gains of 26% for the S&P and 20% for the Dow Jones Industrial Average.
DJIA, + 0.22%
The increase in Tesla stock has brought the company's market valuation to over $ 90 billion, surpassing that of General Motors Co.
GM, + 0.74%
Estimate of approximately $ 50 billion and Ford Motor Co.
36 billion. Tesla's market cap also surpassed that of Ford at its 1999 valuation high – $ 80.8 billion, roughly equivalent to $ 124 billion in today's $.