Tesla Motors Inc. (NASDAQ: TSLA) has had its moments since going public in July of 2010, but nothing can compare with today’s call by Deutsche Bank (NYSE: DB) that it is boosting its price target from $160 to $200. A ringing endorsement from a major financial institution compelling investors to buy into the green car maker, and today they are. As of the time of this writing the stock is up 8.33 percent, which translates into a $13.66 hike. Shares have hit an all-time high today of $180.04 so far and are still rising. At the time of the company’s IPO, they were valued at $19. CEO Elon Musk must be dancing around his office.

Tesla, founded in 2003, has gained widespread recognition for producing affordable, high quality electric cars. The company’s stiffest competition has always come from General Motors Corporation (NYSE: GM), the market leader in the electric car niche. Tesla has slowly but surely been gaining market share in the segment and recently GM has been feeling some pressure.

In a bid to compete with Tesla’s model S electric sports car, GM announced yesterday that it will soon launch a comparable sports car with a price tag of $30,000. This is a hefty $41,000 cheaper than the $71,000 Tesla is asking for its model S. Yet even with the high dollar price tag, the model S is selling, and well. By the company’s own estimates, it will sell over 20,000 of its model S vehicles this year. Tesla is hustling to improve its supply chain as it seems it can’t make the car fast enough.

As for the company’s stock, Deutsche Bank analyst Dan Graves noted today that “there is still exceptionally high short interest in the name, which could boost shares further. Approximately 22% of the free float, or 18 million shares, excluding the convertible hedging, is still held short.”

It seems as if all the stars are aligning for the company, and Tesla’s road for the past six months is proof positive. Right around April, shares witnessed a sharp increase of about 550 percent that some pundits put down to an increase in insider trading, and the trading is still ongoing.

Seriously, I don’t blame them for buying into their own success. Tesla has finally hit its stride and management should congratulate themselves heartily. A superior product coupled with a heightened desire by the public to decrease its carbon footprint has translated into a winning combination. Go Tesla!

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.