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Merrill Lynch Sets Price Target For Tesla at $65

Despite Tesla Motor's recent stock price surge to $253/share at yesterday's closing, Bank of America Merrill Lynch has stuck by their price target of $65. They maintained the stock's underperform ratings in the report. 

Tesla recently announced that they will build a $5 billion battery manufacturing facility. While many support this decision, some believe that the automaker will mess up the battery industry. The good news is that not every analyst share the same sentiment as Merrill Lynch. Morgan Stanley raised their price target to $320, and it seems that the average price target is around $204 per share.