Tesla (TSLA) is rising to $230 in early pre market this morning after Morgan Stanley upgraded the stock with a 2014 price target of $320. I tweeted this might happen yesterday and it looks like I was lucky on the timing. Shorts are getting crushed and the latest victim has been CNBC guest Doug Kass. Doug Kass tried to be a hero and short TSLA right before earnings which is something you should never do. I doubt he will cover today so as long as shorts are holding on for dear life, Tesla shares will continue to rally. It's when all shorts capitulate and cover, long term holders should be worried and be looking to sell.
Doughtery analyst Andrea James was the first person to upgrade Tesla (TSLA) with a $300+ price target after earnings last week. She upgraded Tesla with a $325 price target. Andrea James has been spot on for the past year when she predicted a $200 per share when TSLA was trading at $90. I think I was the only one that believed her because she had to constantly defend herself on CNBC and Bloomberg. Her calls on Tesla over the past year have been some of the best predictions I've ever seen regarding momentum growth stocks.
Tesla (TSLA) is now a strong buy below $200 if the stock ever sees another big correction.
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