Market analysts are upgrading stock target prices this week for Tesla Motors as better than expected sales are being reported. Shares were up eight dollars on Monday, peaking at $116 per share.
Tesla’s luxury sports vehicle, the Model S, currently has 9% of market share in its segment, and competing with big brand luxury cars, despite Tesla cars being 100% electric. This type of growth is unheard of in the motor industry, especially for a company that only started selling cars one year ago. The company was started by technology entrepreneur and visionary Elon Musk.