Global Equities' Chowdhry Reiterates Bullish View on Tesla (TSLA); Calls NHTSA a Non-Issue

Global Equities analyst Trip Chowdhry reiterated an Overweight rating and $385 price target on Tesla Motors (NASDAQ: TSLA), calling the NHTSA suspension complaints a non-issue as 37 of 40 were fraudulent.

Chowdhry highlighted the following tweet from Elon Musk:

"NHTSA confirmed today that they found no safety concern with the Model S suspension and have no further need for data from us on this matter" "Of greater concern: 37 of 40 suspension complaints to NHTSA were fraudulent, i.e. false location or vehicle identification numbers were used" " Would seem to indicate that one or more people sought to create the false impression of a safety issue where none existed. Q is why?"

The analyst said Tesla fundamentals are extremely strong.

• Reiterate overweight rating and 12 to 18 months Price Target of $385 on TSLA; which is based on a revenue multiple of 6.5X FY2016 estimates of $8.8 Billion. We are estimating TSLA could deliver 83,500 Auto Units in FY2016; which is based on company's guidance of delivering between 80,000 to 90,000 Auto Units
• Never in history has any company, but only TSLA has booked orders more than $14 Billion within 4 weeks
• Further, GigaFactory by itself, when complete could be valued at $50 Billion

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 $218.79 yesterday.

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