UPDATE: Wedbush Raises PT on Tesla Motors Following Investor Tour of Fremont Facility

In a report published Wednesday, Wedbush analyst Craig Irwin reiterated a Neutral rating on Tesla Motors (NASDAQ: TSLA), and raised the price target from $150.00 to $180.00.

In the report, Wedbush noted, “We hosted an investor tour of Tesla's manufacturing facility in Fremont, CA and came away impressed with the company's focused execution. We are increasingly convinced that the company is likely to meet or exceed expectations in both the near and intermediate future. The company's manufacturing line is currently producing Model S vehicles at an impressive rate, where we believe Tesla likely has additional capability to flex up production above the 500 vehicles a week rate seen exiting 3Q13. We believe the line completing trim and final assembly is likely the limiting factor for current production capacity, where Tesla could easily debottleneck the process.”

Tesla Motors closed on Tuesday at $182.33.