The only way for Tesla to go still seems to be straight up, especially after Elaine Kwei, an analyst for the Jeffries Group raised her per share target for the company, from $70 to $130. This alone reportedly caused an increase of 9.2 percent in share prices when the market closed, with a Nasdaq value of $117.18 and a peak during the day of $117.77.
Kwei also increased other estimates, including that for yearly Model S production that went up from 19,800 units to 21,500, as well as her Q2 output prediction, from 4,500 units to 5,000.
However, this is not all that’s been going on over at Tesla, as the California-based manufacturer of electric vehicles is, as always, hard at work to get its way when it comes to selling its cars. Their latest attempt to be allowed to use their own dealer network is a petition they are backing – it only needs around 8,000 signatures as you are reading this, in order to reach the desired goal of 100,000 names, when it is expected that the White House will give them an official answer.
In other Tesla-related news, Google may be interested in taking over Tesla, now that their Department of Energy (DoE) loan has been paid off in full, according to a Bloomberg. However, it has never looked like CEO and co-founder Elon Musk was looking to step down any time soon and why would he, when his prospects of getting the company to become a self-sustaining automaker with a range of different models are currently very promising.
Hopefully, he won’t change his mind, no matter how good the offers may be, simply because nobody will be able to steer the company in the right direction better than the man who came up with the idea in the first place (he also controls around 24 percent of the company’s shares, so he will literally have to be pushed aside in order to have new management).
By Andrei Nedelea
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