Morgan Stanley Moderately Tweaks Tesla Motors Earnings Model

In a research report published earlier today, Morgan Stanley has adopted virtually all of Tesla Motors' TSLA 2012 guidance, except for the Model S delivery volume, where Morgan Stanley remains at 2,000 units. “We expect gross margins to trough in 3Q at close to 10% (down from high 30s in 1Q) due to temporary production inefficiencies related to the Model S launch, recovering to 23% by 4Q. We expect Tesla to end 2012 with $241m of gross liquidity vs. $220m vs. $224m previously,” Morgan Stanley said in the report. Morgan Stanley maintains its Underweight rating and $44 PT on Tesla Motors, which closed yesterday at $33.75.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorReiterationAnalyst RatingsMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!