Dougherty & Co Reiterates a 'Buy' on Tesla Motors (TSLA); Buying Opportunity Presented, No Change to Long-Term Growth Story

Dougherty & Co reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $40.00.

Dougherty analyst said, "On Friday, investors learned from a Bloomberg news article that Tesla's chief engineer, Peter Rawlinson, had left the company within the past two weeks. Another mid-level engineering employee is also no longer with Tesla...After speaking with the company at length over the past two days, we believe that Rawlinson's reasons for leaving the company are legitimately personal, involving an illness in the family. We acknowledge that the “personal reasons” departure excuse has lost its meaning and we had been skeptical at first. We believe the second employee's departure was a HR/personnel issue...Most importantly: Neither departure, in our view, represents an engineering problem with the Model S, or changes our long-term outlook on Tesla's growth."

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 $22.79 yesterday.

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