Home Tesla Stock Breaches $900 Mark on Solar Power and Storage Battery Business
Automotive, News, Stocks, Technology

Tesla Stock Breaches $900 Mark on Solar Power and Storage Battery Business

Siraj Sarwar

Tesla [NYSE: TSLA] stock price surged above $900 level amid the resumption of production activities in China. The stock price of the world’s largest electric car maker received support from price target hikes from key analysts. The company’s strategy of diversifying its product line along with its move towards profitability is adding to sentiments.

Tesla stock has more than doubled since the beginning of this year, extending the twelve-month gains to 200 per cent. The shares of Tesla are currently trading around $917, slightly down from the highest level of $970 a share. The share price traded around $170 to $970 over the past three months. Morgan Stanley and other key players are anticipating its stock price to cross $1000 in the coming days.

TSLA Tesla, Inc. daily Stock Chart

Piper Sandler’s Price Hike Enhanced Bullish Sentiments

Piper Sandler’s optimism in Tesla’s push into new areas of clean energy helped in breaching the $900 mark yet again this year. The firm raised the price target to $928 from the previous target of $890. The shares of Tesla soared sharply early this month after Argus Research raised its price target and billionaire investor Ron Baron predicted Tesla’s revenue to top $1trn level in the next decade.

Morgan Stanley’s bull case price target of $1200 is among factors behind the share price run. “We believe investors should expect a very challenging 1Q, with our bull case moving to expansionary mode on battery capacity. We raise our target to $500 from $360 & recast our bull case to $1,200, which is based on aggressive unit volume outcomes that may push the limits of both demand and capacity to supply,” Morgan Stanley analyst Adam Jonas said.

Revenue Diversification Strategy is Key

The company plans to broaden its revenue base with the move towards solar power and storage battery business. Tesla’s solar and battery business could grow to $80bn by the end of this decade, according to Alex Potter, an analyst with Piper Sandler.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission on real stocks

Rating

64 traders signed up today

Visit Now

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account

Siraj Sarwar

Siraj Sarwar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.