Jefferies Maintains a 'Buy' on Tesla Motors (TSLA); Accumulate Shares on Weakness

Jefferies maintains a 'Buy' on Tesla Motors (NASDAQ: TSLA) price target of $39.00.

Analyst, Jesse Pichel, said, "Q2 in line with our preview on 7/17 (where we recommended buying TSLA shares on weakness following a Q3 reset), TSLA guided Q3 shipments to 500 units (vs the street at ~1000), and maintained a 5000 target for FY. Street estimates will need to adjust to a lower Q3, but in our view this change is largely immaterial to the investment thesis. Management did not back away from a potential capital raise, but this is also largely expected."

Pichel raised current quarter from (0.82) to (0.77), FY12 EPS from (2.53) to (2.35), but lowers FY13 from $0.94 to $0.74.

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 $28.95 yesterday.

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