Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Looking at the Mainstream
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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
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Needham & Company reiterates a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target raised from $35 to $40.
Analyst, Michael Lew, said, "The stronger than expected top-line outlook reflects Tesla Motors’ operational execution as Model S electric vehicles (EVs) are on track to begin shipping in 2H12, with major OEM programs also contributing revenues. However, a potential ‘mainstream’ Gen3 offering (after the Model X) suggests Tesla is eyeing the significant volume opportunity given its significant lithium ion battery cost advantage."
"We are revising our near-term estimates to reflect better than expected traction from ongoing initiatives." (FY12 loss lowered from (1.76) to (2.09), but FY13 raised from $0.14 to $0.27)
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 $33.60 yesterday.
Analyst, Michael Lew, said, "The stronger than expected top-line outlook reflects Tesla Motors’ operational execution as Model S electric vehicles (EVs) are on track to begin shipping in 2H12, with major OEM programs also contributing revenues. However, a potential ‘mainstream’ Gen3 offering (after the Model X) suggests Tesla is eyeing the significant volume opportunity given its significant lithium ion battery cost advantage."
"We are revising our near-term estimates to reflect better than expected traction from ongoing initiatives." (FY12 loss lowered from (1.76) to (2.09), but FY13 raised from $0.14 to $0.27)
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 $33.60 yesterday.
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