Tesla Motors (TSLA): Baird Positive on Equity Raise
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Rating Summary:
23 Buy, 27 Hold, 13 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Baird analyst, Ben Kallo, sees Tesla's (NASDAQ: TSLA) capital raise as positive because it removes the largest objection for new buyers and the "loudest" short story, while providing substantial growth capital. No change to Outperform rating or $338 PT.
TSLA announced it intends to sell ~6.8M shares with an additional ~2.8M shares being offered by Elon Musk in an equity offering expected to raise ~$1.4B-$1.7B (dependent on the underwriter option). TSLA will use proceeds to ramp the Model III to high volume production by 2H:17.
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 $211.17 yesterday.
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