Tesla Motors (TSLA) New Lease Program for Small and Midsized Businesses a Positive, Baird Says
- Wall Street falls sharply on worries about banks
- Some Deutsche Bank (DB) Clients Said to Reduce Collateral on Trades
- Qualcomm (QCOM) in Talks to Acquire NXP Semiconductors (NXPI) - DJ
- Costco Wholesale (COST) Tops Q4 EPS by 4c; Comps Rose 3%
- After-Hours Stock Movers 09/29: (MENT) (CEMP) (COST) Higher; (CAMP) (ABUS) Lower (more...)
Baird analyst Ben Kallo reiterated an Outperform rating and $275 price target on Tesla Motors (NASDAQ: TSLA) on news of a leasing program for small and mid-sized businesses.
Kallo's initial reaction is positive: "TSLA’s new financing product should drive demand for TSLA’s Model S and Model X vehicles while allowing the company to make a return on its invested capital. Additionally, the option of introducing asset-backed securities in the future could provide TSLA with another source of low cost capital. Securitization would also allow TSLA to receive upfront cash for its leases which could be deployed for the construction of the Gigafactory or for the production ramp of the Gen III vehicle."
Shares of Tesla Motors closed at $207.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) Checks Show Solid Model X Orders, Aggressive Model S Discounting - Pacific Crest
- Apple (AAPL) No Longer Seen as Top Pick at Barclays
- Disney (DIS): Cutting EPS To A Y/Y Decline - UBS
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRobert W Baird, Tesla
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!