UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Tesla Motors Ahead of 4Q12 Earnings Report
In a report published Monday, Jefferies reiterated its Buy rating on Tesla Motors (NASDAQ: TSLA), and raised its price target from $36.00 to $45.00.
Jefferies noted, “This past weekend the NY Times published a negative article on the Model S; our conclusion is that the reporter's experience was likely due to improper charging protocol. TSLA is expected to report 4Q:12 earnings later this week; we expect an in line quarter and confirmation of 2013 targets. Model S delivery times are now as short as several months; we expect the focus to be on new reservations. We increase our price target to $45.”
Tesla Motors closed on Friday at $39.24.
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