Tesla’s latest announcements could help net the firm another $3 billion in annual revenue, one analyst estimates.
Topline
Tesla shares are on track Friday to post their largest daily gain in more than two months, furthering their recent meteoric rise fueled by faith in the expansion of a key alternative revenue stream that analysts predict could add billions of dollars to Tesla’s top line.Key Facts
Tesla shares set a fresh eight-month high on Friday, jumping 6% to $249 by 10 a.m. ET, after the firm said Thursday afternoon it will open its Supercharger network to General Motors electric vehicles, coming on the heels of a similar announcement for Ford EVs two weeks ago.
This represents “a large monetization opportunity” for Tesla, Wedbush analyst Dan Ives said in a Friday note to clients, upping his price target for Tesla by 40% to $300.
Tesla stock is now up some 35% since announcing the Ford charger deal May 25, tacking on some $205 billion in market capitalization during that time frame.
