UPDATE: Jefferies Raises PT to $39 on Tesla Motors

Jefferies reiterates its Buy rating on Tesla Motors

and raises its price target to $39 (previously $35) on above-estimates for 2012. Jefferies comments, "TSLA guided 2012 revenue above the Street, offsetting the wider 4Q loss. Positive developments include: 1) TSLA announced a new drivetrain program with Daimler; 2) the Model X launch is off to an immediate success with over 500 Model X cars reserved; and 3) Model S production remains on track for July delivery to customers. TSLA will present at the Jefferies Cleantech Conference on Feb. 23." TSLA closed at $33.60 a share yesterday.