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UPDATE: Wedbush Takes Conservative Approach on Tesla

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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.

Latest Ratings for TSLA

DateFirmActionFromTo
Jun 2016Argus ResearchDowngradesBuyHold
Jun 2016Standpoint ResearchUpgradesSellHold
Jun 2016Morgan StanleyDowngradesOverweightEqual-weight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

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

 

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