Kyle Anderson: The Tesla stock price is up 1.8% this week after we’ve received more bullish Tesla stock price predictions.
Yesterday (Wednesday), the investment management firm Oppenheimer initiated coverage of Tesla Motors Inc.(NASDAQ:TSLA) stock as an “Outperform.”
Tesla stock was up marginally in morning trading today (Thursday).
They also set a Tesla stock price target of $340 per share.
That would be a gain 37.5% from today’s opening price of $247.23.
“We view Tesla as a trans-formative battery-powered product company with leading expertise in cell design, packaging, associated software, human-machine, and machine-machine interaction design,” Oppenheimer analysts said in a note.
That’s just the latest bullish Tesla stock prediction.
On Aug. 17, Morgan Stanley (NYSE:MS) analysts raised their price target on TSLA shares from $280 to $465.
Tesla shares have outperformed the markets in 2015.
Year to date, TSLA shares have climbed 10.7%.
In the same time, the Dow Jones has fallen 8.3%, while the Nasdaq is up just 1.3%.
One of the biggest reasons TSLA has outperformed in 2015 is the unveiling of Tesla’s new home battery.
Earlier this year, Tesla announced a new line of home units built using the same lithium-ion batteries used in Tesla cars.