Jefferies Boosts PT on Tesla (TSLA) to $210; Model S Still Safer Than Most Cars

October 7, 2013 10:01 AM EDT
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Jefferies maintains a Buy rating on Tesla Motors (Nasdaq: TSLA), but raises its price target from $160 to $210 on Monday.

Analyst Elaine Kwei commented today that Tesla's Model S sedan is still considered safer than most vehicles by investors, with the risk of a vehicle fire still being far lower versus conventional cars.

Kwei raises Model S delivery estimates for Q3 from 5,350 units to 5,500 units.

Commentary comes following reports of a Model S fire in Washington state last week, with CEO Elon Musk addressing the issue last Friday in an open blog post.

Short interest on Tesla has fallen from 43 percent of flat last March down to just 19 percent through the middle of last month. Shares are up 2.5 percent Monday.

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 $180.98 last Friday, with a 52 week range of $26.86 to $194.50.

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