Tesla Stock Price Moves North as Oppenheimer Raises Its Target to $612

Updated on Jan 13, 2020 at 6:53 pm UTC by Christopher Hamman · 3 min read
Tesla Stock Price Moves North as Oppenheimer Raises Its Target to $612
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As the price for Tesla stock is moving higher, we can say that Elon Musk’s entrepreneurial streak is starting to pay off.

Tesla stock price has continued to rise after making spectacular gains at the weekend. Tesla stock closed at $478.15 apiece on Friday. This has made Oppenheimer and Co. Inc. give the biggest bullish price prediction yet. The New York-based investment firm has given a price prediction of $612 per share. Sources indicate that this is the highest share price prediction given by a Wall Street firm. The firm said in a note to its clients:

“We believe the company’s risk tolerance, ability to implement learnings from past errors, and larger ambition than peers are beginning to pose an existential threat to transportation companies that are unable or unwilling to innovate at a faster pace,”

Oppenheimer has been shown in the past to be accurate about Tesla stock price.

This shows that CEO Elon Musk’s entrepreneurial streak is starting to pay off. Many skeptics have laughed at the “absurdity” of his ideas. The ideas have seemed way out of bounds to them. However, they seem to be paying off as the new Tesla smart Cybertruck is becoming a favorite. We all know that Elon may sound outlandish at times, but the world’s greatest entrepreneurs have always been this way.

Tesla Stock Price Made Its Way to the Top

Tesla has made the list of the 13 top-performing stocks that have been seen as bullish prior to the opening bell of the markets on Monday.

This indicates that the overall corporate strategy of the electric carmaker is working. Despite challenges that have occurred, Tesla is building a niche for itself. Its new Cybertruck has become a niche product despite predictions of failure. The window-smashing incident didn’t help either.

These setbacks appeared to be temporary. They have helped generate more interest in the carmaker as many buyers are becoming environmentally conscious of carbon emissions.

Carmaking Industry

On the global scene, car sales are rising. Porsche seems to be doing well too. Last year was a great year for the German automaker. It has been reported that 280,800 vehicles were delivered. This is a 10% increase from 2018. With a 7% rise (61,568) in the United States and 8% (87,752) in China. Porsche’s Electric Vehicles also gained positive attention. Reports indicate that the Taycan has full orders. The four-door saloon has a top speed of 155 miles per hour and a 253-mile range. It is priced at $103,800 with an enhanced battery model of $110, 380.

It also falls short of the performance specifications of the Tesla Model S. Porsche though is offering upgrades. This shows that at the moment, Tesla is the market leader when it comes to all-electric vehicles. It also shows that Tesla’s stock has a bright upside this year considering the many mistakes that Elon Musk had to make and correct to get here. It is a sign of greater things to come. Well done Elon! Keep moving up!

Tesla stock price at the time of writing stood at $497 per share. This is a 4% increase in share value in the last 24 hours.

Business, Markets, News, Stocks, Technology
Christopher Hamman
Author: Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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