The price of shares in Tesla has taken a sharp dip of late due to falling oil prices, but according to Wall Street analysts it is due to rebound in 2015.

A FactSet report predicts that the shares will rebound by 30% over the next year. The report evaluated the average analyst price target for the stock, which came to $269.25. Of the stocks in the Nasdaq 100 index only Wynn Resorts is predicted to make a bigger rally in 2015.

Wall Street Predicts A Strong 2015 For Tesla Motors Inc

The data predicts that Tesla shares will be worth more than Google, Netflix, Apple and Priceline in 2015.

Tesla Motors’ relationship with oil prices?

Falling oil prices have seen investors bet on traditional gasoline-powered cars coming back into fashion, damaging the price of the electric car company. Even so, analysts are standing by Tesla, which they do not see as an alternative energy story, but rather a high-end technology story.

Pacific Crest’s Brad Erickson predicts 48% rally, to $316, over the course of next year. “While TSLA is a momentum stock, investors have been baking in that lower oil prices will be certain to reduce demand for electric vehicles, regardless of pricing,” Erickson wrote. “The market is being predictably irrational, and this has created a much better entry point in TSLA.”

Tesla shares have never had a relationship with oil before, but the recent crash has turned Tesla into the second-worst performer in the Nasdaq 100, with share prices falling 17%. Although analysts do not believe that Tesla is inextricably linked to oil prices, the predicted stabilization of oil should calm the “irrational” fears of the market.

Analysts remain bullish

Another factor in Tesla’s poor recent performance was the delayed release of the new Model X. The new vehicle is now slated for release in the third quarter of next year, and according to Pacific Crest the release of a new product will lead to an increase in share prices.

Investment firm Stifel Nicolaus has backed Musk’s decision to delay the release of the Model X, citing a lack of current competition in the luxury electric car market. Analysts are also unconcerned by the projected entrance of major automakers into the electric car market, with analyst Carter Driscoll, of investment bank MLV, claiming that greater availability of refueling stations could even boost Tesla’s sales.