Wise Up, Stock Analysts. Tesla Is the Real Deal.
Investors and consumers have made the electric-car maker the world’s second-most-valuable auto company, even without “buy” recommendations.
They’re No. 2.
Photographer: Justin Sullivan/Getty ImagesThe greatest shakeup in automobile history reordered the stock market this month when a minnow grew larger than a whale.
Tesla Inc., the 17-year-old Palo Alto maker of battery-powered, zero-emission vehicles, is now the second-largest automaker measured by market capitalization, overtaking No. 2 Volkswagen with a value of $101 billion. It wasn’t long ago that no industry analyst would have predicted that the 82-year-old Wolfsburg, Germany-based seller of 30 times as many vehicles last year would become an also-ran to Tesla. Most of them remain unconvinced that Tesla is worth its price of $558 a share and less than 32% recommend buying the stock, according to data compiled by Bloomberg.