Tesla Motors (TSLA) Could See Near-Term Pressure Amid SolarCity (SCTY) Bid; Long-Term Looks Good - Baird
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Go back to Tesla Motors (TSLA) Could See Near-Term Pressure Amid SolarCity (SCTY) Bid; Long-Term Looks Good - Baird
June 22, 2016 9:21 AM EDT
Needham & Company reiterated a Hold rating on SolarCity (NASDAQ: SCTY) following the company's announcement that it has received an offer from TSLA to acquire all of its outstanding shares in a stock exchange deal. The purchase would be at an exchange ratio of 0.122-0.131x TSLA shares for each... More
June 22, 2016 8:10 AM EDT
Raymond James analyst Pavel Molchanov weighed in on SolarCity (NASDAQ: SCTY) after the company received a takeover offer from Tesla (NASDAQ: TSLA) for $26.50-$28.50 per share. While Molchanov likes the ideas of a merger, he would hold out for $30+.
"Historically, the stock has traded at more than 2x and even 3x NPV, and while that is probably not realistic for the foreseeable future, a takeout multiple of (at best) 1.35x NPV does not look very appealing," Molchanov commented. "Because... More
June 22, 2016 7:14 AM EDT
Global Equities Research analyst Trip Chowdhry weighed in on Tesla (NASDAQ: TSLA) following news the company offered to acquire SolarCity (NASDAQ: SCTY) for $2.8 billion.
Chowdhry highlights that TSLA + SCTY = Power Generation + Power Storage + Power Consumption = Your... More
June 22, 2016 7:05 AM EDT
Piper Jaffray analyst Alexander Potter reiterated a Neutral rating and $223 price target on Tesla Motors (NASDAQ: TSLA) after the company announced announced a bid for SolarCity (NASDAQ: SCTY). While they think the deal makes a lot of strategic sense, Tesla may be asking too much of... More
June 22, 2016 6:34 AM EDT
(Updated - June 22, 2016 9:53 AM EDT)
Oppenheimer downgraded Tesla Motors (NASDAQ: TSLA) from Outperform to Perform and removed its price target (prior $385.00). The change follows Tesla's offer to acquire SolarCity (NASDAQ: SCTY). Analyst Colin Rusch doesn't think the acquisition is... More
