UPDATE: Macquarie Starts Tesla Motors (TSLA) at Outperform

(updated to expand analyst comment)

Macquarie analyst Maynard Um initiates coverage on Tesla Motors (NASDAQ: TSLA) with an Outperform rating, price target $430.00.

The analyst believes the company is uniquely positioned to lead in ecosystem platforms.

The analyst comments "We view Tesla as a disruptive technology growth company with differentiated products and strong brand presence in the secularly growing and equally disruptive markets of electric vehicles, energy storage, and energy generation. Our rating is predicated on the following five reasons: 1) accelerating vehicle unit growth driven by industry acceleration for electric vehicles over the next two decades, 2) unique potential among OEMs to lead in in-vehicle ecosystem platforms, 3) technology differentiation, 4) continued traction in the energy storage market, and 5) optionality to be a leader in autonomous driving given its tremendous and growing installed base."

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 $261.95 yesterday.

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