Barclays Reiterates Equal-Weight on Tesla Motors Following 3Q13 Results
In a report published Wednesday, Barclays Capital analyst Brian A. Johnson reiterated an Equal-Weight rating and $141.00 price target on Tesla Motors (NASDAQ: TSLA).
In the report, Barclays Capital noted, “TSLA's 3Q13 highlights the dilemma we have around TSLA stock. On the one hand, we still believe our $141 price target is a fair value for TSLA stock, as we fundamentally balance TSLA's near-term success of the Model S with the longer-term potential of building a significant mass-market position. On the other hand, we think 3Q is likely to show a more rapid sales progress than TSLA has guided too, which, along with improvements in gross margin, should continue to propel TSLA's stock price above its fair value.”
Tesla Motors closed on Tuesday at $183.94.
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