J.P. Morgan reiterated its Overweight rating on Tesla Motors (TSLA), giving the shares a bit of a boost. They have a one year price target of $30 (about 30% upside) and a three year target in the $40 – $50 range. They believe the majority of the investment community is underestimating the potential of the company with its power-train (used by Daimler (DDAIF.PK) and Toyota (TM)) and non power-train technologies.
The argument out of JP Morgan is certainly a valid one, particularly with Toyota and Daimler on board with the technology, but I still feel that there are better longer term investments out there. For example Nissan (NSANY) which is launching the LEAF is up 50% since July and Toyota Motors (TM) is up 20% in three months. Tesla is down nearly 40% in two months and about flat since the summer highs.
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