Tesla Motors' stock price target was raised to $365 from $360 at Jefferies on Thursday. Analyst Dan Dolev reiterated a buy rating on the stock, citing lowering battery cost estimates - a reduction of as much as 50% by 2020 -- due to the benefits of the Gigafactory's scale and changes to cell chemistry. If battery costs are reduced to $125 kilowatt-hours, Tesla's gross margins could get a 1,000 basis-point bump, which would place Tesla at the upper-end of profitability levels among its original equipment manufacturer peers and make the Model 3 viable, the bank said. Shares of were inactive in premarket trade. They are basically flat over the last three months, versus a 5% decline for the broader S&P 500.
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