It’s been a bit of a roller coaster for Tesla’s (TSLA) stocks lately, but only because of some of the record-setting numbers made by the company thus far in the year.
According to Market Watch, Deutsche Bank analyst Emmanuel Rosner boosted his price target on Tesla (TSLA) by 33%, in spite of the fact that the stock dropped 2.7% in Wednesday’s premarket trading. Still, the company’s shares have grown 36.2% over the last five days. The growth comes not soon after a legendary August, in which the company split its stock five-for-one and even sold $5 billion dollars in shares.
Rosner’s target price for Tesla went from $300 to $400, and he suggests holding at the moment. With Battery Day nearby on the horizon, and many expecting the company to unveil a new insourced battery manufacturing system, the call makes sense – Tesla will likely grow significantly with the onset of new battery capabilities and more on Battery Day.
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Year-to-date, Tesla has grown a stunning 437.6%, despite having recently been snubbed by the S&P 500 index committee. Still, the company’s inclusion in the index is expected any day now, and especially after its battery announcements on the 22nd.
At the time of publishing, Tesla (TSLA) is worth $447.27, down 0.55% from yesterday.
