Join the Ride in Tesla (TSLA) Ahead of Positive Data Points - Analyst
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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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Barclays reiterated their Overweight rating and $38 price target on Tesla Motors (NASDAQ: TSLA) telling clients to stay the course as production ramps up.
"In our view, Tesla Motors should continue outperforming the clean tech space based on the potential emergence of incremental data points in the coming weeks that support rising production coupled with favorable media coverage of the Model S (e.g., in Motor Trend, Consumer Reports) as a competitively positioned, viable alternative in the premium vehicle market," analyst Amir Rozwadowski states.
Rozwadowski notes Tesla has a strong competitive positioning amid positive reviews of the Model S - most notably its selection as Motor Trend's 2013 Car of the Year. The selection "validate our thesis that it is a premium performance vehicle which provides an innovative driving experience...and just happens to be electric."
In the coming weeks, the firm expects data points to emerge which support improved production rates and provide incremental visibility on Tesla's ability to meet its 2012 production target of 3-3.5K vehicles. "While we cannot completely discount the potential for unforeseen issues, we do believe that the risk of moving from 200 to 400 cars per week is less than the initial risk of ramping up production from 0 to 200 per week," the analyst said.
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 $32.92 yesterday.
"In our view, Tesla Motors should continue outperforming the clean tech space based on the potential emergence of incremental data points in the coming weeks that support rising production coupled with favorable media coverage of the Model S (e.g., in Motor Trend, Consumer Reports) as a competitively positioned, viable alternative in the premium vehicle market," analyst Amir Rozwadowski states.
Rozwadowski notes Tesla has a strong competitive positioning amid positive reviews of the Model S - most notably its selection as Motor Trend's 2013 Car of the Year. The selection "validate our thesis that it is a premium performance vehicle which provides an innovative driving experience...and just happens to be electric."
In the coming weeks, the firm expects data points to emerge which support improved production rates and provide incremental visibility on Tesla's ability to meet its 2012 production target of 3-3.5K vehicles. "While we cannot completely discount the potential for unforeseen issues, we do believe that the risk of moving from 200 to 400 cars per week is less than the initial risk of ramping up production from 0 to 200 per week," the analyst said.
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 $32.92 yesterday.
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