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Entrenched analysts weigh in on Tesla Motors

Published 10/27/2016, 10:36 AM
Entrenched analysts weigh in on Tesla Motors
  • Analysts are in with their assessments on Tesla Motors (NASDAQ:TSLA) following the company's Q3 earnings report and updates on initiatives.
  • There is a general consensus that Tesla's ability to record a profitable quarter increases the odds the SolarCity (SCTY +5.3%) merger will be approved, although some skepticism and nit-picking can also be found.
  • "It was a kitchen sink effort to get the third quarter to look good ahead of the deal vote," says CFRA Research analyst Efraim Levy.
  • "Management asserted that it would not need to raise cash, but our model forecasts Tesla ending 2018 with $575 mln, which we think is too close for comfort," maintains Cowen analyst Jeffrey Osbourne.
  • "We cannot help but feel that there are some comparability issues relative to the firm’s reported revenue, gross profit, and net income relative to even those analyst estimates included in consensus," adds JPMorgan (NYSE:JPM) to the discussion.
  • Baird doesn't see it as nearly that gloomy, backing an Outperform rating and $338 price target with major catalysts on the calendar (solar roof event, SCTY vote, Gigfactory media tour, Model X reviews).
  • Other investment firms backing their Buy ratings include Credit Suisse (SIX:CSGN) ($280 PT), Dougherty ($500 PT), Sterne Agee ($300 PT) and Stifel Nicolaus ($325 PT).
  • Previously: Tesla beats by $0.05, misses on revenue (Oct. 26)
  • Previously: Tesla Motors stays on track with delivery guidance (Oct. 26)
  • Previously: Tesla talks Model 3 ramp during earnings call (Oct. 26)
  • Shares of Tesla are up 4.7% at last check and traded as high as $213.70 today.

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