Tesla (TSLA) Long Term Outlook Remains Intact, Says Deutsche Bank
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Deutsche Bank maintained a Buy rating on Tesla Motors (NASDAQ: TSLA) with a price target of $310. Comments follow Q3 results.
Analyst Rod Lache said, "Tesla’s margin performance was somewhat weaker than we expected during Q4 (due to manufacturing inefficiencies related to their recent expansion), they guided Q4 deliveries a bit lower (also due to these inefficiencies), and they indicated that Model X will be launched a bit later than previously disclosed (though this was largely known as customers’ order confirmation emails have been indicating a Fall 2015 launch). Nonetheless, the longer term outlook for Tesla does not appear to be changing materially. We maintain our Buy rating based on valuation.
"Our work continues to suggest that Electric Vehicles will reach cost parity with conventional Internal Combustion vehicles by the early 2020’s, which suggests that this technology is on a trajectory for mass adoption. And while Tesla clearly faces significant execution risks, we continue to believe that this company is positioned for significant advantages as this happens," he added.
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 $230.97 yesterday.
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