Market Overview

Maxim Group Reiterates Buy Rating, $50 PT on Tesla Motors

Share:
Related TSLA
Pacific Crest: Tesla Demand Concerns Are Overdone
Is Tesla Worth $350/Share? Jefferies Thinks So
Warning Signs: Cracks In The Foundation (Seeking Alpha)

In a report published Wednesday, Maxim Group reiterated its Buy rating and $50.00 price target on Tesla Motors (NASDAQ: TSLA).

Maxim Group noted, “While TSLA's stock tumbled (10%) Tue. on the one-two punch of a secondary and a cut to 2012 guidance, we expect selling pressure to subside following the deal with (1) the removal of a predominant overhang, (2) 5% EPS dilution immaterial to TSLA's valuation prospects, and (3) TSLA's ability to produce 400 cars/week (20k/year)—and thus positive free cash flow—likely to be evident by year end; we expect TSLA to soon resume a path upward to our $50 PT and maintain our Buy.”

Tesla Motors closed on Tuesday at $27.66.

Latest Ratings for TSLA

DateFirmActionFromTo
May 2015JefferiesInitiates Coverage onBuy
Apr 2015JP MorganMaintainsUnderweight
Mar 2015Argus ResearchInitiates Coverage onHold

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Maxim GroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (TSLA)

Around the Web, We're Loving...