Tesla Motors (TSLA) PT Lowered to $280 at RBC Capital; Conf. Call 'Shook Confidence'
RBC Capital analyst Joseph Spak lowered its price target on Tesla Motors (NASDAQ: TSLA) to $280.00 (from $305.00) while maintaining a Sector Perform rating following results and the "odd" conference call.
Spak commented, "An odd conference call that lacked answers to questions on investors' minds and overshadowed earnings. Investor feedback is that the performance shook confidence, which we'd argue is an important piece of the Tesla story. The results themselves probably did little to incrementally persuade bulls/bears either way. There is still healthy, and warranted, skepticism about Tesla's near-term production capabilities. PT to $280 as we lower outer-year margin assumptions."