Jefferies Upgrades Tesla (TSLA) to Buy

Jefferies analyst Philippe Houchois upgraded Tesla (NASDAQ: TSLA) from Hold to Buy with a price target of $450.00 (from $360.00).

The analyst comments "Positive sum game - Tesla is one of a few OEMs likely to grow earnings in 2019-20. Unrealistic goals (growth, industrial ramp, and automation) have been re-based. Global BEV share should accelerate in 2019-20 (more choice, tighter emission rules ex-US). Tesla should continue to stand out with broader price points, battery security of supply, product edge and a brand that transcends the volume/premium divide. In short, in the year ahead we think only Tesla will avoid a volume zero-sum-game or negative margin trade-off in EVs."

He further likes the balance sheet detox that is underway and see upside potential at Fremont.

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $363.06 yesterday.

You May Also Be Interested In

• Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
• Stifel Upgrades LeMaitre Vascular (LMAT) to Buy
• Tesla (TSLA) to Accelerate Launch of More Affordable Models