September 19, 2013 / 3:52 PM / 4 years ago

Tesla shares hit record after Deutsche Bank note

NEW YORK (Reuters) - Shares of Tesla Motors Inc (TSLA.O) hit a record high on Thursday, boosted in part by an upbeat note from analysts at Deutsche Bank.

Shares of the electric car maker hit $177.92 and were recently up 6.3 percent at $176.63. Deutsche Bank raised its target price on the stock to $200 from $160 and said it expects Tesla to modestly outperform third-quarter margin expectations.

Tesla shares are up more than 420 percent so far this year.

Reporting by Rodrigo Campos; Editing by Chris Reese

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