Tag: Yahoo Finance

Tesla’s ‘Ludicrous Mode’ Fuels More Target Hikes, Burns Shorts

(Bloomberg) -- Tesla Inc. appears to be riding on “Ludicrous Mode” -- the feature of its electric cars that allows super-fast acceleration -- with shares up more than 25% this year. That breakneck pace has prompted a rush by Wall Street analysts to raise targets and caused short investors’ losses to pile up.The shares have more than doubled since mid-October, helped by a surprise third-quarter profit, strong deliveries for the fourth quarter, the quick construction of its China plant and a general improvement in analysts’ sentiment. By comparison, the S&P 500 Index has gained 1.6% so far this year.The dizzying stock increase has left analysts playing catch-up. After a string of price-target boosts earlier this month, Jefferies and Deutsche Bank were the latest to significantly raise their projections.Jefferies’ Philippe Houchois bumped up his target to $600 from $400 on Tuesday, saying it would be wrong to exit Tesla on valuation since...