UPDATE: JMP Securities Downgrades Tesla (TSLA) to Market Perform
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JMP Securities analyst Joseph Osha downgraded Tesla (NASDAQ: TSLA) from Market Outperform to Market Perform.
The analyst comments "Moving recommendation to Market Perform. We roll our numbers forward, the result being that the 2025 estimates we use to value the stock have risen. At this point, however, even looking at other category-killer technology companies, we cannot justify higher target multiples than 7x revenue and 35x EBITDA, which is where we have been. Discounting those outcomes back to the present at 8%, which again is consistent with our previous approach, suggests that the stock is fairly valued. We will continue to look at our growth profile for insight into whether there is additional upside to the stock – we believe that makes more sense than simply continuing to raise target multiples."
Shares of Tesla closed at $864.16 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
Related EntitiesJMP Securities, Tesla
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