Analysis: Model X to boost Tesla Motors

|About: Tesla Motors (TSLA)|By:, SA News Editor

Pacific Crest analyst Brad Erickson thinks Tesla Motors (TSLA +4%) is "attractively valued" when looking at the EV's growth trajectory out to 2016.

The investment firm is sticking to a shorter time-frame when making its Tesla analysis, which takes some execution risk off the table with the Gigafactory and Model III launch.

Optimism over the Model X will continue to rise, forecasts Erickson.

A price target of $316 on TSLA by Pac Crest factors in a valuation of 4X EV/2016 revenue.