Tesla (TSLA): Solid Quarter And Commentary, Raising Ests - Baird

October 27, 2016 8:58 AM EDT
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Price: $244.73 --0%

Rating Summary:
    17 Buy, 13 Hold, 9 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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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.

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 $202.24 yesterday.

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Robert W Baird, Tesla, Ben Kallo, Model 3

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