Tesla Inc. (NASDAQ:TSLA) could see significant growth from a new budget electric vehicle offering, according to prominent investor Gary Black, who raised his price target for the EV maker by 27% to $380 from $300 on Monday.
What Happened: Black, Managing Partner at The Future Fund LLC, attributes his “increased conviction” to expectations that Tesla will launch a $25,000-$30,000 hatchback model, potentially capturing approximately 15% of the global compact car market.
