BofA/ML Transitions Coverage on Tesla (TSLA), Raises Price Target to $180
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Rating Summary:
24 Buy, 26 Hold, 13 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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BofA/Merrill Lynch transitioned coverage on Tesla Motors (NASDAQ: TSLA) and maintained an Underperform rating on the stock. Its price target was raised to $180.00 (from $65.00).
Analyst John Murphy thinks shares of Tesla are overvalued and he expects EVs to remain a niche for the foreseeable future. The report noted 13 issues Tesla will face in the coming years, including possible Model X launch delays, China, margins, cash burn, and its gigafactory, which was summarized as "burying cash in the desert?"
For an analyst ratings summary and ratings history on Tesla Motors click here. For more ratings news on Tesla Motors click here.
Shares of Tesla Motors closed at $269.15 yesterday.
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