Barclays Maintains an 'Overweight' on Tesla Motors (TSLA); Minimal Volt News Impact; Steady Progress Continues

Barclays maintains an 'Overweight' on Tesla Motors (NASDAQ: TSLA) price target of $38.00.

Barclays analyst says, "While headlines around recent Chevy Volt (NYSE: GM) fires have sparked debate over the safety of lithium-ion batteries and the halo effect that these issues could have on electric vehicle adoption, we believe the likelihood of a near-term material impact on premium vehicle demand is minimal. Coupled with recent data points suggesting that 1) interest on the Model S remains high and 2) Tesla is on track with its ramp of its NUMMI facility, we believe the backdrop for further share appreciation is favorable."

"The beta versions of the Model S are now rolling off the line (assembly only) at NUMMI as the company continues to tweak its operations. The stamping dies are expected to be delivered over the next few months. As we continue to view Tesla as an execution story, this data supports our view that the company remains on track to getting the factory up to its initial target of a 20K unit annual capacity."

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 $30.41 yesterday.

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