Jefferies Maintains Buy on Tesla (TSLA) Post Q4, Trims Estimates

February 21, 2013 8:20 AM EST
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Price: $235.58 --0%

Rating Summary:
    16 Buy, 14 Hold, 9 Sell

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    Up: 3 | Down: 5 | New: 17
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Jefferies reiterated its Buy rating and $45 price target on Tesla Motors (NASDAQ: TSLA) following Q4 results which were largely in line with their expectations.

The firm comments, "Production was on track with our forecast and cash usage declined significantly from the prior quarter. The company guided to slight profitability in 1Q, which is 2-3 quarters earlier than generally expected. TSLA reiterated guidance for 20,000 Model S deliveries in 2013 and is now focused on cost reduction and efficiency gains."

The firm trimmed Q1 EPS from ($0.01) to ($0.02), FY13 from $0.33 to $0.29 and FY14 from $2.11 to $1.90.

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 $38.54 yesterday.

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