Roth Capital Downgrades Tesla (TSLA) to Sell

Roth Capital analyst Craig Irwin downgraded Tesla (NASDAQ: TSLA) from Neutral to Sell with a price target of $249.00.

The analyst comments "Tesla cut accruals by $185 per car and reversed certain warranty provisions, delivering a $55m one-time benefit. This dovetails with 3Q19 margin detail where the 330 bps beat included $75m from allocating fixed costs over 10% higher production, $50m from automotive inventory liquidation, and $30m in release of Smart Summon deferred revenue. Downgrade to Sell, as we see margins as unsustainable."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $323.00 yesterday.

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