Investment Analysts’ Recent Ratings Updates for Tesla Motors (TSLA)
Tesla Motors (NASDAQ: TSLA) was the recipient of a ratings changes during the seven days:
- Tesla Motors had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $28.00 price target on the stock.
- Tesla Motors had its “buy” rating reaffirmed by analysts at Goldman Sachs.
- Tesla Motors had its price target lowered by analysts at Needham & Company to $32.00.
- Tesla Motors had its price target lowered by analysts at Bank of America to $30.00. They wrote, “Following last nights unveiling of its new supercharger, this morning Tesla lowered its 2012 outlook, including its forecast for 2012 Model S deliveries, due in part to supply disruptions. As a result, we are lowering our EPS estimates and POfor TSLA shares. Specifically, we are reducing our 2012e EPS from $(2.65) to $(3.20), 2013e from $0.40 to $0.30, 2014e from $2.05 to $1.85, and 2015e from $2.35 to $2.15. We are also lowering our PO on TSLA shares from $33 to $30, based on 2014e EV/EBITDA and price/sales multiples of ~10.4X and ~1.4X, respectively. In our view, Tesla remains an interesting story, but significant execution risk exists as volumes continue to accelerate. We also believe that supply disruptions could persist, creating a meaningful headwind.”
- Tesla Motors had its price target lowered by analysts at Robert W. Baird from $42.00 to $35.00. They now have an “outperform” rating on the stock.
- Tesla Motors had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $34.00 price target on the stock, down previously from $39.00. They wrote, “On Tuesday morning BMO, TSLA lowered its 3Q and 2012 production and shipment guidance and also announced a follow-on offering. We adjust our estimates and PT to account for the slower production ramp in 2012 and a more conservative outlook on 2013. We believe TSLA could become a longer-term story as the EV market develops; the next catalyst hinges upon volume shipments of the Model S. Jefferies is hosting a Tesla factory tour on Oct. 4.”
- Tesla Motors had its price target lowered by analysts at Jefferies Group from $39.00 to $34.00.
- Tesla Motors had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $50.00 price target on the stock. They wrote, “While TSLA’s stock tumbled (10%) Tue. on the one-two punch of a secondary and a cut to 2012 guidance, we expect selling pressure to subside following the deal with (1) the removal of a predominant overhang, (2) 5% EPS dilution immaterial to TSLA’s valuation prospects, and (3) TSLA’s ability to produce 400 cars/week (20k/year)—and thus positive free cash flow—likely to be evident by year end; we expect TSLA to soon resume a path upward to our $50 PT and maintain our Buy.”
- Tesla Motors had its “overweight” rating reaffirmed by analysts at Barclays Capital.
Tesla Motors Inc traded up 0.34% on Thursday, hitting $29.40. Tesla Motors Inc has a 52-week low of $22.64 and a 52-week high of $39.95. The company’s market cap is $3.100 billion.
Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.