Tesla (TSLA): Solid Quarter And Commentary, Raising Ests - Baird
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Baird analyst, Ben Kallo, reiterated his Outperform rating on shares of Tesla Motors (NASDAQ: TSLA) after Q3 results beat expectations across the board with strong gross margin, demonstrating improved operational efficiency.
Management confirmed that the battery factory (cell production in Q4) and Model 3 (volume production 2H:17) are on time. Additionally, Musk indicated a capital raise may not be necessary for the ramp of the Model 3 (although an opportunistic raise could occur).
No change to the price target of $338.
Shares of Tesla Motors closed at $202.24 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Related EntitiesRobert W Baird, Tesla, Ben Kallo, Model 3
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