Close

Wedbush Reiterates Buy on Tesla (TSLA)

January 17, 2014 8:26 AM EST
Get Alerts TSLA Hot Sheet
Price: $194.70 --0%

Rating Summary:
    30 Buy, 19 Hold, 9 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 28 | New: 30
Join SI Premium – FREE
Tesla Motors (NASDAQ: TSLA) may add another Model S production line in 2014, according to Wedbush analyst Craig Irwin. In a note Friday, he reiterated an Outperform rating on Tesla with a price target of $205.00. Comments follow investor meetings with management.

"We hosted investor meetings with management from Tesla and came away with further confidence in our constructive thesis," said Irwin. "Tesla's 4Q13 deliveries upside of around 1,000 units versus our prior estimate was driven primarily by increased battery availability from Panasonic, as well as a material improvement in direct-run vehicles."

"We believe the recent constraints that Panasonic’s available production capacity have presented are likely to be resolved by 2H14 when shuttered capacity is likely to be re-commissioned to produce batteries for Tesla. The cost-out roadmap of a mid- to high-single-digit percent reduction in annual battery costs should support a continued tailwind for 2014 Model S gross margins," continued the analyst.

"We see increasing potential Tesla could add another Model S production line in 2014 to serve what the company describes as robust demand," he added.

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 $164.13 yesterday.


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

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Tesla