Jefferies Lifts Target On Tesla Motors (TSLA) to $39 Following Q4

Jefferies boosted its price target on Buy-rated Tesla Motors (NASDAQ: TSLA) from $35 to $39 following a wider Q4 loss, but higher 2012 revenue after the close.

The firm comments, "1) TSLA announced a new drivetrain program with Daimler; 2) the Model X launch is off to an immediate success with over 500 Model X cars reserved; and 3) Model S production remains on track for July delivery to customers. TSLA will present at the Jefferies Cleantech Conference on Feb. 23. We raise our PT to $39 and reiterate Buy."

Q1 EPS estimates go down from ($0.65) to ($0.71), FY12 down from ($1.89) to ($1.96) and FY13 up from $0.89 to $0.97.

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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