Dougherty Comments on Tesla Motor's (TSLA) Model S and Factory, Tops Expectations
Tweet
Share
E-mailGet Alerts TSLA Hot Sheet
Price: $342.27 +0.68%
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Dougherty & Co is reaffirming its Buy rating and $40 price target on shares of Tesla Motors (NASDAQ: TSLA) following this past weekends activities at the company's new Model S plant.
The firm reports that the Model S meet its high expectations and that analysts were impressed with the cars spacious interior and flat panel display screen. An analyst commented, "The car also receives praise for its sleek design, handling and use of three dimensional space , no “pixel” of space is wasted."
The regular Model S can go from 0-60mph in 5.6 seconds, but a performance version of the car, which will be available upon launch, goes 0-60mph in under 4.5 seconds.
While the car meet expectations, the company's factory beat expectations. The factory is currently 90 percent complete, well ahead of what was anticipated. Dougherty highlights that the only things left to do are install the Fuji Industries tooling dies and set-up the final inspection space.
The firm found out at the meeting that Toyota (NYSE: TM) and Daimler were not the only companies testing batteries with TSLA, but FedEx (NYSE: FDX) is also testing a new truck with a Tesla battery.
Management reported that they have over $650 million in capital still available and has no need for additional capital for the launch of the Model S and Model X. Dougherty forecasts that the company's first profitable quarter will be the first quarter of 2013.
For more ratings news on Tesla Motors click here and for the rating history of Tesla Motors click here.
Shares of Tesla Motors closed at $23.73 yesterday.
The firm reports that the Model S meet its high expectations and that analysts were impressed with the cars spacious interior and flat panel display screen. An analyst commented, "The car also receives praise for its sleek design, handling and use of three dimensional space , no “pixel” of space is wasted."
The regular Model S can go from 0-60mph in 5.6 seconds, but a performance version of the car, which will be available upon launch, goes 0-60mph in under 4.5 seconds.
While the car meet expectations, the company's factory beat expectations. The factory is currently 90 percent complete, well ahead of what was anticipated. Dougherty highlights that the only things left to do are install the Fuji Industries tooling dies and set-up the final inspection space.
The firm found out at the meeting that Toyota (NYSE: TM) and Daimler were not the only companies testing batteries with TSLA, but FedEx (NYSE: FDX) is also testing a new truck with a Tesla battery.
Management reported that they have over $650 million in capital still available and has no need for additional capital for the launch of the Model S and Model X. Dougherty forecasts that the company's first profitable quarter will be the first quarter of 2013.
For more ratings news on Tesla Motors click here and for the rating history of Tesla Motors click here.
Shares of Tesla Motors closed at $23.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla Nears Unveiling of Radical New ‘Flying’ Roadster - The Information
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Tesla (TSLA) call put ratio 4.1 calls to 1 put with a focus on spreader of 1699 contracts of August 335, 350, 355 and 367.50 calls as share price up 2.5%
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
TeslaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
