Needham & Company Reiterates a 'Buy' on Tesla Motors (TSLA); Time To Deliver

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

Analyst, Michael Lew, said, "It's “show time” as Tesla Motors has commenced delivery of the Model S electric vehicle (EV) ahead of schedule and begins the trek toward profitability. Our estimate increase reflects better than expected operational execution. We expect TSLA shares to also benefit from improving industry sentiment as the company has achieved a major program milestone in a timely manner."

Raises FY12 loss from (2.61) to (2.48) and FY13 lowered from $0.24 to $0.23.

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 $33.79 yesterday.

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