SEC Action Against Tesla (TSLA) Increases Difficulty In Security Funding - JPMorgan
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JPMorgan analyst, Ryan Brinkman, reiterated his Underweight rating on shares of Tesla Motors (NASDAQ: TSLA) and is concerned that concerned that decreased investor confidence may impact the company’s ability to raise capital on amenable terms.
The analyst stated "we believe a capital raise may be needed to preserve liquidity in the event the company does not reach its targeted milestones in 2H18 for Model 3 production, GAAP profitability, and positive cash flow, and yet Tesla may now find it more difficult to consummate a capital raise during this period of elevated uncertainty
relative to leadership continuity and corporate governance (exacerbating the implications of not having raised equity capital earlier, despite the urging of many in the financial community)".
No change to the price target of $195.
Shares of Tesla Motors closed at $267.81 yesterday.
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