UPDATE: Jefferies Reiterates on Tesla Motors Following Positive News From Germany
In a report published Tuesday, Jefferies analyst Elaine Kwei reiterated a Buy rating on Tesla Motors (NASDAQ: TSLA), but lowered the price target from $210.00 to $190.00.
In the report, Jefferies noted, “Last night after the close TSLA disclosed that the German Federal Motor Transport Authority came to a favorable conclusion in its investigation of the recent crash-related Model S vehicle fires. We think this should provide greater confidence that the NHTSA investigation will result in a favorable outcome in the U.S. as well, providing a positive catalyst for the stock.”
Tesla Motors closed on Monday at $124.17.
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