Tesla (TSLA) PT Raised to $450 at Citi Ahead of 2Q Results

July 16, 2020 6:41 AM EDT
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Citi analyst Itay Michaeli raised the price target on Tesla (NASDAQ: TSLA) to $450.00 (from $246.00) ahead of ahead of Tesla’s Q2 results next week.

The analyst maintained a Sell rating and discussed near term expectations stating "Reflecting stronger Q2 deliveries (vs. initial downturn expectations) and lower opex assumptions, we’re raising our 2020E EPS, with slight revisions for 2021E-22E. Our estimates are comparable with Tesla’s results excluding SBC and regulatory credits. On that basis, we’re modeling $0.3bln of Q2 EBIT".

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