Tesla stock market gains skyrockets to $2500 after Jefferies analyst Philippe Houchois raised his price target on the stock to $2,500 from $1,200, with the new target representing the highest listed on FactSet.
“Tesla’s competitive edge in cars may soon start to shrink but continues to widen in multiple other dimensions, from brand leverage and software to battery capacity and industrial efficiency,” Houchois wrote in a note to clients. Tesla will set new benchmarks and ambitions for battery density, materials, and industrial processes leading to pack costs <$100 in the coming years. We cannot pretend to understand the magnitude and speed of share price moves. We still see the logic in the exuberance,” in part because “growth expectations for 2020 to 2022 doubled since September 2019, almost exclusively driven by autos as non-auto related revenue remains a small fraction of estimates.” Houchois said.
Porsche Launched its First Electric Car! Way More Exciting Than Tesla? (December 2019)
Before we head to the Porsche Vs Tesla battle, let’s get some insights on the former’s brand new launch, Taycan Turbo S. Priced at a whopping $150,900, Porsche’s first-ever all-electric car totally deserves all the hype according to automobile lovers around the globe. The German company had been in the process of making its finest car with electric propulsion for the past 4 years and the outcome is absolutely worth it. Look wise, Taycan is more like a sports car with 4 doors and accommodates 5 seats.
While Tesla’s Model S’s top speed is 163mph, Porsche cut it close with 161mph. Now, that’s something both the cars can be proud of considering they run on electric motors using the energy stored in batteries. Though this is far less than any of Tesla’s fastest cars, the speed is a milestone in the history of electric cars. Comparing the acceleration efficiency of the two cars, Taycan can go from 0-60mph in less than 2.6 seconds whereas it was 2.8 seconds for Tesla in its Ludicrous mode (100% acceleration).
The automobile industry is going places with electric cars designed to get charged up to 80% in less than half an hour. But, to make these affordable for public use is beyond question.