Market Overview

UPDATE: Wedbush Takes Conservative Approach on Tesla

Related TSLA
Earnings Scheduled For July 31, 2014
Auto-Makers Take A Hit In European Revenues; Morgan Stanley Suggests Reducing Exposure
The Connected Car: Do Consumers Care? (Fox Business)

Wedbush analyst Craig Irwin maintained an Outperform rating on Tesla Motors (NASDAQ: TSLA) and lowered the price target from $295.00 to $275.00.

Irwin commented on the rising risks for the gigafactory in taking a “moderately more conservative position” on Tesla. The analyst remarked on Panasonic's earlier concern that by joining Tesla's gigfactory would raise investment risks. Wedbush further noted Panasonic's noncommittal comments.

The analyst added the asking prices for battery materials is climbing according to Wedbush's “various sources.”

Shares of Tesla are down as much as 4.9 percent at $203.00 on Thursday. The stock is currently trading at $208.30, down 2.24 percent from Wednesday's close.

Posted-In: Craig Irwin WedbushAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (TSLA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters