Just when you thought that electric cars were running low on juice, along comes Wall Street with its foot on the accelerator.
Lazard Capital initiated coverage of Tesla Motors
Barclays Capital and Goldman Sachs have also reiterated their bullish positions in recent weeks.
Why is everyone rallying behind the American maker of all-electric vehicles?
It's certainly not gas prices bringing Wall Street around. Prices at the pump have been falling in recent months, surprising the pros that figured fuel prices would head higher into the seasonally potent summer travel season.
It's also not the fundamentals behind the industry itself.
If lower gasoline prices make electric cars less attractive due to longer time frames to recoup the fuel savings by going electric, then why are analysts scrambling to be on the bullish side of Tesla? Well, the "S" marks the spot.
Deliveries of Tesla's Model S -- originally set to hit the market in July -- will begin a week from Friday. The initial production run was sold out long before gas prices began heading lower, but the very presence of the car out on the open road will turn heads and attract interest. Tesla's original Roadster was a sporty indulgence, but the six-figure price tag kept most buyers away. The Model S starts at a more reasonable $49,900.
The electric car industry will be validated throughout the year as other carmakers roll out their plug-in models, but next week is when Tesla will once again be turning heads. You can't blame analysts for making their bullish opinions known before it becomes fashionably obvious.
Hit the road
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Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
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