Tesla (TSLA) Fetches Street-High, $500 Price Target at Dougherty
- Wall Street ends volatile week higher as Fed officials ease bank fears
- Deutsche Bank shares plunge after spike in credit default swaps
- 6-week inflows to bonds? Biggest ever; 7-day inflows to cash? $142.9 billion; Policy panic now 'inevitable' - BofA's Hartnett
- World stocks gyrate as bank contagion fears bite
- Activision (ATVI) gains 5% as UK's CMA narrows concerns scope in Microsoft (MSFT) deal
Get Alerts TSLA Hot Sheet
30 Buy, 20 Hold, 9 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 9 | Down: 10 | New: 12
Join SI Premium – FREE
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Dougherty & Co reiterated a Buy rating on Tesla Motors (NASDAQ: TSLA) with a Street-high price target of $500.00 (prior $355.00). Yesterday Tesla unveiled its Model 3 and booked over 150,000 reservations. Analyst Andrea James described the event as "history making."
"At the end of his presentation, CEO Elon Musk did not drop the mic and walk away. But he could have," said James. "Because Tesla has changed the game again. In one day, Tesla generated at least 150,000+ reservations, representing an order book of $6bn in revenue, and generating $150mm in zero-cost capital from the $1,000 customer deposits. (Note that the 2010 IPO added $190mm to the balance sheet.) "
"Over six years, we have extensively researched the entire Tesla ecosystem. We've spoken with vehicle electrification experts and representatives from Daimler, Nissan, Toyota, Honda and BMW. We've met with Tesla's management, robotics suppliers, customers, sales reps, cell competitors to Panasonic, third-party suppliers with access to the factory floor, and even local bartenders who serve drinks to the workers at shift change," continued the analyst.
"Our research supports this conclusion: Tesla is solving a different set of equations than the rest of the auto industry," James added. "The disruption story builds,"
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 $229.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) best positioned to master upcoming industry shake-out - UBS
- Angelalign Technology Inc (6699:HK) PT Lowered to HK$123 at Goldman Sachs
- UBS survey shows slowing pace of EV sector
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Momentum Movers
Related EntitiesTesla, IPO
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!