Tesla Trading Way,Way Up In Late Day Action On Tuesday

Tesla Trading Way,Way Up In Late Day Action On Tuesday

Analysts at Morgan Stanley raised the price target for Tesla stock from $153 to $320 per share, while maintaining the stock's "overweight" rating.

The Tesla Model S At The 2014 NAIAS

The Tesla Model S At The 2014 NAIAS

This new price target led to TSLA skyrocketing again to a pre-market price of over $231, and as high as $259.20 during the days trading.

Tesla's market cap is now approaching $27 billion.

Morgan Stanley's Adam Jonas wrote:

"Tesla is an extremely ambitious company for whom flooding the market with fun-to-drive EVs and giving competitors a headache might not be the endgame. Tesla's limited addressable market, a long-time bear thesis on the stock, appears well up for grabs here."

The price target hike comes as Tesla CEO Elon Musk is expected to make a formal announcement on Tesla's giga factory battery plant.  Like the Supercharger network, the giga factory could itself be a game changer for Tesla.

Real-time quote  can be found here