Analyst Defends Tesla (TSLA), Says Checks Show 'Considerable Rise' in Model S Reservations
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Price: $362.86 +5.14%
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
29 Buy, 26 Hold, 16 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Tesla Motors (Nasdaq: TSLA) are set to open sharply lower for the second day in a row as a downgrade to Sell from Wunderlich is weighing this morning.
The lowered recommendation at Wunderlich comes on the heels of a 7 percent decline in Tesla shares on Tuesday amid a rumor delivery dates for a few orders of the company's Model S were pushed back.
Not everyone is jumping on the bandwagon, however. Maxim's Aaron Chew, in a research note earlier Wednesday, said his checks suggest " a considerable rise in new reservations since deliveries began amidst rave reviews mid-June 2012. With no evidence of widespread production delays, we expect TSLA to ramp to 69 vehicles/day in 4Q12 and 77 in 2013 to overcome doubts and achieve its 20,000 target..."
Chew maintains a Buy rating and $50 price target on shares of Tesla.
With Tesla shares down 6.4 percent to $31.23 at last check, the Maxim analyst's price target implies potential upside of about 60 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Tesla.
The lowered recommendation at Wunderlich comes on the heels of a 7 percent decline in Tesla shares on Tuesday amid a rumor delivery dates for a few orders of the company's Model S were pushed back.
Not everyone is jumping on the bandwagon, however. Maxim's Aaron Chew, in a research note earlier Wednesday, said his checks suggest " a considerable rise in new reservations since deliveries began amidst rave reviews mid-June 2012. With no evidence of widespread production delays, we expect TSLA to ramp to 69 vehicles/day in 4Q12 and 77 in 2013 to overcome doubts and achieve its 20,000 target..."
Chew maintains a Buy rating and $50 price target on shares of Tesla.
With Tesla shares down 6.4 percent to $31.23 at last check, the Maxim analyst's price target implies potential upside of about 60 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Tesla.
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