Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Expecting Close to Near Free Cash Flow 'Breakeven' in 4Q
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Price: $103.39 +1.16%
Rating Summary:
11 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
11 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
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Needham & Company reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $40.00.
Analyst, Michael Lew, said, "The company delivered another quarter of solid operational execution as Model S deliveries are tracking to plan with management
reconfirming expectations to deliver 5,000 vehicles in 2012. It seems Tesla Motors could deliver more. However, management has slowed manufacturing to ensure quality standards are met and is ‘holding back the production horses’. Based on the current production schedule and ongoing development work, management is projecting near cash flow ‘breakeven’ by year-end. We expect TSLA shares to benefit from the combination of meeting program milestones and improving industry sentiment."
FY12 loss lowered from (2.48) to (2.47) and FY13 from $0.22 to $0.37.
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 $28.95 yesterday, with a 52 week range of $21.50-$39.95.
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Analyst, Michael Lew, said, "The company delivered another quarter of solid operational execution as Model S deliveries are tracking to plan with management
reconfirming expectations to deliver 5,000 vehicles in 2012. It seems Tesla Motors could deliver more. However, management has slowed manufacturing to ensure quality standards are met and is ‘holding back the production horses’. Based on the current production schedule and ongoing development work, management is projecting near cash flow ‘breakeven’ by year-end. We expect TSLA shares to benefit from the combination of meeting program milestones and improving industry sentiment."
FY12 loss lowered from (2.48) to (2.47) and FY13 from $0.22 to $0.37.
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 $28.95 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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