Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Reminder, It's More Than the Model S

September 4, 2012 8:28 AM EDT
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Price: $244.73 +0.40%

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    17 Buy, 13 Hold, 9 Sell

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Needham & Company reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $40.00.

Analyst, Michael Lew, said, "The New York Times review of the Toyota RAV4 EV (NYSE: TM) is a strong reminder that Tesla Motors is more than just about the Model S. We recognize the near-term challenge in ramping Model S production. However, we believe the smaller emerging powertrain business should not be overlooked. The recent revelation about Nissan's (OTC: NSANY) multi-battery sourcing strategy suggests ‘affordable' mainstream EV pricing for the masses could soon become a reality, with Tesla potentially benefiting as a powertrain supplier."

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 $28.52 yesterday.

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