Tesla (TSLA): There's Headline Risk To Street Estimates - Baird

October 26, 2016 8:49 AM EDT
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Price: $244.73 +0.40%

Rating Summary:
    17 Buy, 13 Hold, 9 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Baird analyst, Ben Kallo, reiterated his Outperform rating on shares of Tesla Motors (NASDAQ: TSLA) ahead of earnings but expressed concern that the Street does not fully understand the complexity of the model due to the changes to revenue recognition and incorporation of lease accounting.

The analyst believes there may be headline risk since Street estimates may not have been updated for the change in reported revenue, though he expects positive commentary about production, the construction and ramp of the gigafactory, and overall demand on the Q3 call.

For 2016, the analyst now expects revenue of $6.48B and non-GAAP EPS of ($3.98). For 2017 he expects revenue of $10.4B and non-GAAP EPS of $0.80.

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 $202.34 yesterday.

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