Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Unveils Impressive Model X, Model S on Schedule

Needham & Company reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $35.00.

Analyst, Michael Lew, said, "Tesla Motors unveiled the impressive looking Model X crossover electric vehicle -- an SUV with a minivan interior. The price will range from $60,000 (210 mile driving range) to $85,000 (270 miles). The company’s objective is to begin production in late-2013. Importantly, Model S production is still on target for the onset of customer deliveries at mid-year. In our view, Tesla is executing and is positioned to benefit from the secular shift towards the electrification of transportation in the long-term."

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 $32.58 yesterday.

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