Credit Suisse Reiterates Above Consensus EPS for Tesla (TSLA) Ahead of 1Q21 EPS
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Credit Suisse analyst Dan Levy reiterated a Neutral rating and $800.00 price target on Tesla (NASDAQ: TSLA) ahead of consensus into 1Q21 EPS. Credit Suisse is modeling 85c vs. consensus 71c with the upside coming from reg credits.
The analyst stated "We see a few takes on Tesla stock into the print and more broadly: 1. Positive into print given above-consensus view, but set-up less attractive than it was into delivery release; 2. Ramp of new capacity (reinforcing growth ahead) and EPS upside are positives for the stock in ’21, but positives on this front somewhat dented by increased EV competition; 3. Tesla stock still heavily driven by investor appetite for terminal value narratives…however higher rates / less terminal value focus could dent the stock."
Shares of Tesla closed at $706.89 yesterday.
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