Elon Musk’s Tesla (NasdaqGM: TSLA) hit an all-time high Tuesday in advance of the electric carmaker’s after-the-close earnings report Wednesday.
Year-to-date, shares of California-based Tesla are up nearly 36%. Even that run, which comes on the heels of the stock more than quadrupling last year, two analysts boosted their price targets on Tesla Tuesday to $215 and $222 respectively.
“Analysts polled by Thomson Reuters are looking for revenue of $677.36 million, a 121% rise from the year-earlier quarter, and earnings per share of 21 cents, swinging from a 65-cent loss,” reports Donna Howell for Investor’s Business Daily.
A mere seven ETFs feature Tesla among their top-10 holdings, according to S&P Capital IQ data. Three are equal –weight funds, meaning the stock is just a small percentage of each portfolio and another, the PowerShares Global Clean Energy Portfolio (NYSEArca: PBD), features Tesla as its largest holding but at a weight of just 2%. [Small Sector ETFs With Huge Returns]
With another earnings update from Tesla on the way, ETF investors are again reminded that the universe of legitimate of “Tesla ETFs” boils down to the Market Vectors Global Alternative Energy ETF (NYSEArca: GEX) and the First Trust NASDAQ Clean Edge Green Energy Index Fund (NasdaqGS: QCLN). [The Elon Musk ETF]