Jefferies Defends Tesla (TSLA), Boosts PT into Q4 Results; Improper Charging to Blame

February 11, 2013 9:51 AM EST
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Price: $254.61 +2.29%

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Tesla Motors (Nasdaq: TSLA) is moving off early lows Monday amid a negative article from the New York Times on its Model S.

Jefferies is defending Tesla this morning, saying that the NYT piece was likely due to "improper charging protocol." The firm notes that the vast majority of Model S buyers are "very impressed."

With Tesla expected to report fourth-quarter 2012 results later this week, Jefferies is reaffirming expectations into the tape. The firm also expects confirmation of FY13 goals from management with focus on Model S reservations.

Jefferies has a Buy rating on Tesla, boosting its price target from $36 to $45.

STesla shares are down over two percent.

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 $39.24 yesterday.

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