Shares of electric-car maker Tesla (NASDAQ: TSLA) have been surging higher recently. Indeed, the stock has doubled year to date. Over the last 30 days alone, shares have risen 43%. You'd think with such an incredible gain behind it that the stock could cool off soon. But one analyst seems to think the stock could trade much higher 12 months from now.
In a note to investors on Friday morning, Wedbush analyst Daniel Ives reiterated a buy rating on the stock and increased his 12-month price target for shares to $300. Even more, he added the stock to the firm's "Best Ideas List."
Here's what has the analyst so bullish on automaker's shares.
Source Fool.com