Deutsche Bank AG analyst Rod Lache raised his target price TSLA stock from $220 to $310. Lache said he expects Tesla to grow faster.
The company plans on increasing its annual production capacity to 50,000 cars by the end of 2014 and doubling that pave by late 2015. Tesla’s future plans include more shipmentns of its Model S sedan to international markets as well as the addition of the Model X in early 2015.
“Tesla suggested that their growth trajectory will be much steeper, their mix will be much richer, and their costs will ultimately be much lower than we previously assumed,” Rod Lache said in a report.
TSLA stock is up close to 5% Monday afternoon with shares selling at about $260.39.