TSLA Stock Price Going High
by Riccardo Pelliteri 1 minute read
What is happening with Tesla (NASDAQ:TSLA) shares?
Tesla shares are soaring again, following an 8% gain on Tuesday, 17th November. Following Morgan Stanley analyst Adam Jonas’ decision to bring his price target up on the stock by $180.
Jonas previous price target was $360, but now Jonas expect a 12 months price target of $540 on Tesla shares. The increased bullishness comes as Morgan Stanley added software and connected vehicle services revenue to his forecast for the company. Moreover, the great optimism generated following the news that the stock will soon be included in the S&P 500 index, may also be benefiting the shares price.
Tesla is bullish on the sales potential of its software. Elon Musk believes that soon his cars will be fully self-driving. In fact, the automaker has already released a self-driving beta version to some of its vehicles. There are also speculations that Tesla is planning to increase the price of its self-driving software as it continues to improve. Also, Tesla is considering transitioning to a subscription model for the software.
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