Global Equities Comments on Tesla's (TSLA) Roadster Announcement; Affirms 'Overweight' Rating

December 26, 2014 12:24 PM EST
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Price: $930.00 -1.47%

Rating Summary:
    25 Buy, 21 Hold, 12 Sell

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Today's Overall Ratings:
    Up: 24 | Down: 13 | New: 20
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Global Equities comments on Tesla Motors (Nasdaq: TSLA) following an announcement that the company is increasing the range of its Roadster.

Analyst Trip Chowdhry commented:

TSLA is probably the only Technology company to retrofit an older generation product with the latest technology

  • TSLA Sold about 2,400 TSLA Roadsters from 2008 to 2012
  • Range of TSLA Roadster is 244 miles, and goes 0 - 60 in 3.8 seconds
  • Today, TSLA is announcing a 400 mile range Battery pack for Roadster, an increase of 63% range over the current battery pack in the Roadster

-- TSLA continues to accelerate Battery innovation
-- 63% range extension over 6 year period is phenomenal

  • By the same taken, we expect TSLA Model S to have 500 mile range probably by 2017 - 2018; and all the existing Model S, could be retrofitted with the new Battery Packs, when available
  • We continue to maintain Estimates, Overweight Rating and Price Target of $385, which is based on our FY2015 revenue estimates of $6.2 billion, and FY 2015 production estimates of 62K to 65K Auto Units

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

Tesla Motors closed at $222.26 yesterday.

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Tesla, Trip Chowdhry