Your source for the latest Breaking News plus Local, Business, Sports, Entertainment & Video News for Southern New Jersey

default avatar
Welcome to the site! Login or Signup below.
Not you?||
Logout|My Dashboard
AAA  Feb. 21, 2014
A sweet ride
  •       Text Size    
  •       AIM Article
  •       Share Article

Buy AP Photo Reprints

It was less than a year ago that Tesla Motors reported its first quarterly profit, and it hasn't looked back. Since May, its stock is up 278 percent compared with a 13 percent rise in the broader market.

Investors are clamoring to participate in the electric-car maker's growth. The stock has skyrocketed over the last two years. It took a brief slump last fall following reports of two of its Model S cars catching fire, but as customers became aware that the cars are safe, demand returned and so did investors.

The company said late Wednesday that it expects to deliver more than 35,000 cars in 2014, up 56 percent from last year. It also hopes to boost production from about 600 cars per week, to 1,000 by year's end.

Analysts are split on the stock. Although several raised their price target this week, the average target of $190.92 is below Thursday's close.

Associated Press
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.