Citi Remains Positive on Tesla (TSLA) Following Management Meeting

Citi maintains Neutral on Tesla Motors (NASDAQ: TSLA) price target of $367.00.

Analyst Itay Michaeli remains Neutral-rated but holds a positive view on the company following a meeting with management. The analyst notes the meeting supported his fundamental positive stance on the company but remains Neutral citing the potential for a better entry point, perhaps on a pullback. As it relates to risks that exist as Model 3 ramp proceeds, Michaeli comments "we sensed a level of confidence that recently identified issues are on their way to being fixed and that the new timetable to reach 5k/week (end of Q1’18) allows for some cushion." The analyst acknowledges an understanding of management's position when it comes to capital raises and believes the equity would react well with a significantly larger cash cushion to buffer various unforeseen downside scenarios.

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 $302.99 yesterday.

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