Nomura/Instinet Starts Tesla Motors (TSLA) at Buy, Street High

October 3, 2017 4:10 PM EDT
Get Alerts TSLA Hot Sheet
Price: $1,012.00 -1.8%

Rating Summary:
    25 Buy, 21 Hold, 12 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 32 | New: 33
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

(Updated - October 3, 2017 4:13 PM EDT)

(updated to add analyst comment)

Nomura/Instinet initiates coverage on Tesla Motors (NASDAQ: TSLA) with a Buy rating and a price target of $500.00.

Analyst Romit Shah forecasts "unprecedented" revenue gains for the company ($8 billion in 2016 to $58 billion in 2021). The analyst believes the company has "an insurmountable lead in vehicle range per dollar", benefits from largely inferior competitive field which should drive growth at current levels, will work through Model 3 production problems, and generate upwards of mid-to-high 20% GMs by 2020.

The PT is based on 2.1x 2021 estimated sales.

FY 2017 EPS estimate is for ($6.53) and FY 2018 EPS estimate is for $(0.03).

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 $341.53 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Hot New Coverage, New Coverage

Related Entities

Nomura, Tesla, Model 3