UPDATE: Tesla (TSLA) PT Raised to $137 at Citi

October 27, 2020 6:05 AM EDT
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Price: $589.72 +3.15%

Rating Summary:
    21 Buy, 21 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
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(Updated - October 27, 2020 7:05 AM EDT)

(updating comment)

Citi analyst Itay Michaeli raised the price target on Tesla (NASDAQ: TSLA) to $137.00 (from $117.00) while maintaining a Sell rating.

The analyst comments "Updating our Tesla model post 10Q filing. On the back of stronger Q3 results, we’re raising 2020-22 EPS estimates. Our price target goes to $137 from $117 on higher LT margin assumptions reflecting greater confidence in gross margin execution. That said, we believe the stock still reflects a significantly more robust growth/margin outcome than what we view as most likely, leaving us at Sell (3H). We expect the NT focus to shift to Q4/’21 demand metrics and FSD progression. Please click the link below for more details, including our initial observations from FSD Beta Rollout."

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