Jefferies Adjusts Estimates on Tesla Motors (TSLA); Suggests Buying on Weakness
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Price: $87.24 -0.4%
Rating Summary:
10 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
10 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade TSLA Now!
Jefferies maintains a 'Conviction Buy' Tesla Motors (NASDAQ: TSLA) price target of $39.00.
Analyst, Jesse Pichel, said, "We lower our 3Q estimates ahead of the Qtr to account for a slower ramp of production following our plant tour & discussions with TSLA mgmt at the recent Model S drive event. We expect 2Q12 to be in line with guidance of roughly flat revenue with 1Q12; however, we expect the Street will need to lower 3Q12 estimates. We believe that any weakness tied to a 3Q12 earnings expectation reset should be viewed as a buying opportunity."
"For 3Q12, we lower our revenue estimates to $87.2M from $152.7M and 4Q we increase our estimate to $432.2M from $366.6M." (FY12 raised from (2.59) to (2.53))
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 $33.35 yesterday, with a 52 week range of $21.50-$39.95.
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Analyst, Jesse Pichel, said, "We lower our 3Q estimates ahead of the Qtr to account for a slower ramp of production following our plant tour & discussions with TSLA mgmt at the recent Model S drive event. We expect 2Q12 to be in line with guidance of roughly flat revenue with 1Q12; however, we expect the Street will need to lower 3Q12 estimates. We believe that any weakness tied to a 3Q12 earnings expectation reset should be viewed as a buying opportunity."
"For 3Q12, we lower our revenue estimates to $87.2M from $152.7M and 4Q we increase our estimate to $432.2M from $366.6M." (FY12 raised from (2.59) to (2.53))
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 $33.35 yesterday, with a 52 week range of $21.50-$39.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Jefferies & Co, Jesse Pichel, Tesla, Earnings
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