UPDATE: Maxim Group Initiates Coverage on Tesla Motors
According to a research report published this morning, Maxim Group has initiated Tesla Motors (NASDAQ: TSLA) with a Buy rating and $50 PT.
Maxim Group commented in the report, "A pioneer in EVs (releasing its Roadster three years before the Volt), TSLA plans to launch its sleek, high-performance Model S in June, targeting the $50k-$75k luxury sedan market. Penetrating the auto market with an EV is no small feat, but its track record of success lays the groundwork for more."
Tesla Motors closed yesterday at $28.77.
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