Market Overview

Tesla Shares Decline as Lazard Cuts to Neutral, Firm Sees Limited Upside

Related TSLA
Technical Alert: Tesla Motors Finds Resistance In The $213 Handle Again
20 Biggest Mid-Day Gainers For Thursday
Tesla Gets Price-Target Boost After Earnings, But Also A Sell Rating (Investor's Business Daily)

Shares of Tesla (NASDAQ: TSLA) are down about 2.5 percent just a few minutes after the opening bell following an earlier downgrade from Lazard Capital's Aditya Satghare.

Satghare lowered Lazard's investment recommendation on Tesla shares from Buy to Neutral.

The analyst believes shares of Tesla will see only limited upside over the next year, suggesting any material upside would need to come from record sales of the third-generation model and domestic manufacturing within China. Satghare is anticipating a bit of cloudiness through 2016 or 2017.

Satghare believes shares of Tesla could fall to around $100 given any execution problems.

With shares of Tesla last trading just under $150, Satghare's downside assumption implies a possible 33 percent decline in the stock.

Check out a recent survey conducted by Benzinga:

Latest Ratings for TSLA

Oct 2016Goldman SachsMaintainsNeutral
Oct 2016Goldman SachsDowngradesBuyNeutral
Sep 2016Cowen & Co.Initiates Coverage onUnderperform

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Analyst Color News Downgrades Price Target Analyst Ratings


Related Articles (TSLA)

View Comments and Join the Discussion!