Northland Capital Markets boosts their price target on Tesla Motors (TSLA) to $253 from $230

Following blowout earnings and a strong forecast, TSLA stock price is rocketing upwards opening at 215 and still up 7%. Bullish analysts are also upping their forcasts:

“We raise our PT to $253 (from $230) as we begin to give TSLA credit for executing on improving manufacturing margins, noting that near-term demand appears to be outstripping our previous estimates. Our PT is based on 25x 2020E non-GAAP EPS of $20.33 (from $18.50).” Northlan Capital Markets said in a  note to clients

“TSLA’s drivetrain technology generates a significant amount of torque. We continue to believe that TSLA could easily develop vehicles for light and medium duty hauling. We also see an opportunity for TSLA to begin to offer value added services/aps from its platform not dissimilar to other consumer electronic devices which could generate high-margin revenue from an already loyal customer base” it added.