Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Model S Ahead of Schedule Followed by Mercedes Deal
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Price: $87.24 -0.4%
Rating Summary:
10 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
10 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
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Needham & Company reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $40.00.
Analyst, Michael Lew, said, "The key takeaways from the 1Q12 conference call are that Tesla Motors is executing to plan with the Model S to begin shipping this quarter, ahead of schedule. Reservations have exceeded 10,000 with Model X at about 1,000. In addition, the electric Mercedes Benz agreement is by far the company’s largest powertrain agreement and could be in excess of $300 million. In our view, Tesla Motors is well positioned to benefit from the electrification of luxury automotive transportation."
Needham lowers FY12 EPS estimate from (2.10) to (2.61), revs from $552.6 mln to $544.8 mln. FY13 EPS estimate cut from $0.27 to $0.24.
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 $30.06 yesterday, with a 52 week range of $21.50-$39.95.
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Analyst, Michael Lew, said, "The key takeaways from the 1Q12 conference call are that Tesla Motors is executing to plan with the Model S to begin shipping this quarter, ahead of schedule. Reservations have exceeded 10,000 with Model X at about 1,000. In addition, the electric Mercedes Benz agreement is by far the company’s largest powertrain agreement and could be in excess of $300 million. In our view, Tesla Motors is well positioned to benefit from the electrification of luxury automotive transportation."
Needham lowers FY12 EPS estimate from (2.10) to (2.61), revs from $552.6 mln to $544.8 mln. FY13 EPS estimate cut from $0.27 to $0.24.
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 $30.06 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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