A huge victory for the electric car as it breaks into the auto market
Tesla Model S landed at the top of Consumer Reports‘ highly regarded annual top-10 autos list on Tuesday, making a good day for Tesla CEO Elon Musk even better after a Wall Street analyst’s bullish forecast catapulted shares upward.
Consumer Reports gave the electric-powered vehicle top honors for its “blistering acceleration, razor-sharp handling, compliant ride, and versatile cabin,” adding that the Tesla Model S is “a glimpse into the future.”
The glowing review came shortly after Morgan Stanley analyst Adam Jonas said Tesla warrants a share price of $320, the Wall Street Journal reports. Tesla produced less than 23,000 vehicles last year at a price tag of $89,000, but Jonas sees the company hitting 370,000 vehicles a year by 2020. Tesla is expected to announce plans to build a new battery factory that will lower the cost of batteries.