Maxim Group Reiterates Buy Rating, $50 PT on Tesla Motors
In a report published Friday, Maxim Group reiterated its Buy rating and $50.00 price target on Tesla Motors (NASDAQ: TSLA).
Maxim Group noted, “Though not yet official, recent TSLA commentary suggests an increase in the Model S price for new reservations is on the horizon. Though this may lead to concerns over the impact on demand and implications for the current run rate of order confirmations and profitability, we believe it may reflect a broader strategy of (a) adjusting to a higher-end, less price-elastic customer base and (b) market segmentation ahead of its lower-end $30k Gen 3. While the stock may be pressured on the news, we view any dip as a buying opportunity.”
Tesla Motors closed on Wednesday at $32.47.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.