Tesla (NASDAQ: TSLA) has taken a hit recently. The stock has slid 16% since the beginning of November, even as the S&P 500 rose more than 2% over that same timeframe.
But despite the stock's bearish trend recently, one analyst thinks the electric-car maker's shares will soar over the next 12 months. The analyst's updated price target for the stock calls for an impressive 55% upside from where shares closed on Friday. Based on Tesla's share count today, this implies a $1.6 trillion market capitalization.
Here's why this analyst is so bullish.
Source Fool.com