In a report published Thursday, Jefferies analyst Elaine Kwei reiterated a Buy rating on Tesla Motors TSLA, and raised the price target from $130.00 to $160.00.
In the report, Jefferies noted, “TSLA posted a 2Q beat on all key metrics including deliveries, margins, and earnings. TSLA delivered 5,150 Model S vehicles in North America, with a gross margin of 22%, and was profitable on a non-GAAP basis. TSLA reiterated 2013 shipment and margin guidance but hinted at expansion past 25%. TSLA will present at the Jefferies Global Industrial Conference on Monday, August 12.”
Tesla Motors closed on Wednesday at $134.23.
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