Jefferies Starts Tesla Motors (TSLA) at Buy, the Apple of of Cars

Jefferies initiates coverage on Tesla Motors (NASDAQ: TSLA) with a Buy and $35 price target saying "If Apple Made a Car, This Could Be It!"

The firm comments, "TSLA is the first publicly-listed pure play electric vehicle manufacturer. There are two primary issues for investors: 1) execution risk - producing vehicles on time; and 2) consumer acceptance of a fully electric vehicle. However, we see more positive than negative catalysts over the next 4-5 months with potential for a short squeeze (24% short interest, 13% borrow). We initiate coverage of Tesla with a Buy rating and PT of $35."

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 $29.57 yesterday.

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