A well known analyst from a top firm has forecasted in a recent report that luxury electric automaker Tesla Motors is gearing up to shape up a future that includes car fleets of shared autonomous vehicles.
Morgan Stanley analyst Adam Jonas has increased his price target on the stock of the youngest and smallest publicly traded US automaker from the current $280 to $465 a share. He claims Tesla has a massive lead on connected autos compared to the traditional auto manufacturers that it might soon develop a new unit that could be called something in the lines of “Tesla Mobility”. “We would be surprised if Tesla did not share formalized business plans on shared mobility within the next 12 to 18 months,” he commented in a note to investors. “This could potentially be followed by commercial introduction in 2018.” Tesla’s stock has been hovering at around $250 for a while. He also said that almost doubling his price target on the stock was almost not enough, as he believes Tesla’s business case to be so strong that bullish traders might lift the tesla shares to as much as $611.
Jonas also forecasts the introduction of a “Tesla Mobility 1.0 urban transport PODS (Position on Demand Service)” would only be feasible following the release of the electric automaker’s anticipated Model 3 sometimes in 2017, a model that should be more affordable and thus appeal to a wide range of consumers. For the time being, the flagship Model S sedan will be joined later next month by the crossover Model X.