UPDATE: Morgan Stanley Reiterates on Tesla Motors on Increasing Investor Concerns
In a report published Thursday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla Motors (NASDAQ: TSLA), but removed the $320.00 price target.
In the report, Morgan Stanley noted, “Investors are increasingly concerned about how the market will react to a possible YoY decline in N. American deliveries of the Model S in 2014. We believe a decline in NA deliveries is not only possible, but is likely… and reasonable. In fact, we'd argue that anyone with a FY14 global delivery forecast of less than 35k units has a global geographic split that clearly implies a YoY decline of Model S volume in N. America, if not a severe deceleration to near 0% growth. Will the headlines matter for how the stock trades? Very possibly. Are we fundamentally concerned? No.”
Tesla Motors closed on Wednesday at $207.89.
Latest Ratings for TSLA
|Jun 2016||Standpoint Research||Upgrades||Sell||Hold|
|Jun 2016||Morgan Stanley||Downgrades||Overweight||Equal-weight|
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