Tesla (TSLA): Hitting Targets With Stable Demand - Nomura

Nomura/Instinet analyst, Romit Shah, reiterated his Buy rating on shares of Tesla Motors (NASDAQ: TSLA) after the 2Q production and delivery report Monday morning confirmed that Tesla hit its production target of 5,000 Model 3’s in the final week of the quarter.

The analyst did not lock in on any negative demand data points and believes that Net Model 3 reservations appear stable. He pointed out that net Model 3 reservations stood at roughly 420,000 exiting 2Q suggesting "that incoming reservations are at least offsetting deposit cancellations.it reaffirmed its guidance for positive GAAP net income and cash flow in Q3 and Q4, despite forex headwinds and higher tariffs on both imports and exports with China".

No change to the price target of $450.

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 $335.07 yesterday.

You May Also Be Interested In

• Deutsche Bank Downgrades Workday (WDAY) to Hold
• Deutsche Bank Downgrades Netskope (NTSK) to Hold on Valuation
• U.S. EV market shows signs of bottoming out: Bernstein