Stifel, Nicolaus & Co. Analyst James Albertine says Tesla Motors Inc’s (TSLA) share price could reach $400 in the next 12 months. He says Tesla has remained successful despite plateauing demand for alternatively fueled vehicles.
“I think one of the reasons why Tesla has proven to be successful and will continue to be — is it is by far the best product in the alternatively fueled segment,” he says. “It offers the best range, it offers the best performance, it offers the best customization and it offers, I think, the best customer service at the end of the day. It’s a luxury product, and I think for good reason they have chosen to brand themselves in that way, and that’s arguably helped to secure a more stable demand stream.”
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Albertine says he tries to avoid getting into the non-GAAP versus GAAP profitability question that is often discussed in the media about Tesla. He says the company is, in fact, profitable just based on the Model S, which he says is a positive indicator for Tesla’s financial future.
He adds: “Our view is that it is really becoming less of an auto manufacturer play and more of a technology and ultimately energy storage play, so as we think about Tesla Energy more broadly, all of that has to factor into the near-term key catalysts.”
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