Tesla Motors (TSLA) PT Cut 37% to $195 at JPMorgan as Funding Does Not Appear Secured
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JPMorgan analyst Ryan Brinkman slashed his price target on Tesla Motors (NASDAQ: TSLA) to $195.00 (from $308.00) while maintaining an Underweight rating said it appears 'funding has not been secured'.
"Our interpretation of subsequent events leads us to believe that funding was not secured for a going private transaction, nor was there any formal proposal," the analyst commented.
The analsyt added that while Tesla does appear to be exploring a going private transaction, they now believe that such a process appears much less developed than they had earlier presumed.
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