Credit Suisse Initiates Coverage On Tesla, Says It's 'Not A Fair Fight'
In a note dated August 13, Credit Suisse analyst Daniel Galves initiated coverage of Tesla Motors (NASDAQ: TSLA) with an Outperform rating and a $324.93.
"Electric vehicles are inherently better than Internal Combustion (ICE) vehicles," said Galves. "If Tesla can get to cost-parity with ICE and still offer $1,400-$2,500 per year fuel savings to the consumer, it won't be a fair fight."
Galves believes Tesla is in fact on the road to cost parity. He noted that the Gigafactory is a "major step" in that direction and says battery costs for the Model S and X could come down to the $10,000-11,000 level with the battery costs for the Model 3 as low as $7,500.
Latest Ratings for TSLA
|Jan 2017||Morgan Stanley||Upgrades||Equal-Weight||Overweight|
|Jan 2017||Guggenheim||Initiates Coverage On||Buy|
|Oct 2016||Goldman Sachs||Maintains||Neutral|
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