Tesla's Stock Surged 9% After A Bullish Analyst Upgrade

elon musk justine musk nasdaq tesla ipo New York June 29, 2010

Tesla shares improved 9.15% today after Jefferies analyst Elaine Kwei raised her price target for the company to $130. 

The stock ended the day at $117.18.

Here’s some of her commentary:

Based on reported [calendar year to date] sales and customer VIN numbers, we believe there is likely upside to prior 2Q guidance for deliveries of 4,500 units, as well as 2013 guidance of 21,000 units. We estimate TSLA has taken 9% market share in the U.S. full-size luxury sedan market, accounting for nearly all growth in the segment. We increase our estimates and PT to $130 based on a 10-year DCF and update our EV market forecast. 

Tesla’s stock has more than doubled since May.

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