February 26, 2014
Tesla Tops $30 Billion Market Cap as Morgan Stanley Boosts Outlook
- Feb 25, 2014
Tesla Tops $30 Billion as Morgan Stanley Boosts Outlook
Tesla Motors Inc. (TSLA), the electric-car maker, exceeded $30 billion in market valuation after Morgan Stanley more than doubled its projected price for the stock, saying the company may disrupt the auto and energy industries.
The shares advanced 14 percent to $248 at the close in New York, following the analyst note that projected a 12-month price target of $320 and after Tesla's Model S sedan became the first U.S. car to receive Consumer Reports' "best overall pick" in the magazine's annual ranking. While the stock gave back some earlier gains it's up sevenfold in the past year and the company's market cap is now $30.4 billion, more than half that of General Motors Co.'s.
Read the full article here: Bloomberg News - Tesla Tops $30 Billion as Morgan Stanley Boosts Outlook
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