Value of 'remarkable' Tesla still underappreciated by markets, according to fund managers

Stock has tripled year-to-date

Intellectual property, superior operational progress and a number of product launches in the pipeline means Tesla's share price has only gone "some way" towards recognising the company's growth potential, according to several senior investment professionals, despite the fact it became the world’s most valuable car firm earlier this month.

This comes less than two days after Tesla reported a net profit for the fourth consecutive quarter of $104m compared to a $408m loss last year, causing its share price to jump by 5% shortly after the announcement. It also reported a free cash flow of $418m in Q2 and a total revenue of $6bn, which was about $1bn higher than consensus estimates. The electric vehicle company, whose market cap now stands at $295.2bn, saw its $900 share price halve between the start of the mid-February market sell-off to the 20 March. While markets generally rebounded after this point, Tesla's share price ...