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Ascendiant Capital Analyst Says Model X Only Risky Item In Tesla Earnings

Ascendiant Capital Analyst Says Model X Only Risky Item In Tesla Earnings
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Speaking to Benzinga, Ascendiant Capital analyst Theodore O'Neill said that the real risk in Tesla Motors Inc (NASDAQ: TSLA) is further delay deliveries of the Model X. Barring that, he says “the stock should do OK.”

Specifically, the Ascendiant Capital is looking for $1.1 billion in sales and a non-GAAP EPS of $0.31, which is in line with consensus. However, he’s not buying recent reports that CEO Elon Musk is cracking the whip as the result of disappointment with China sales.

“I don't know where this is coming from but it isn't news,” O'Neill said. “Elon is a no-nonsense manager who doesn't tolerate non-productive employees at any level. And my understanding about the issues in China are that they have been fixed and we should give the new managers more than 30 days to see results!”

Ascendiant Capital has a Buy rating on the stock with a $320 price target.

Brianna Valleskey contributed to this report.

Image credit: Giordio, Wikimedia

Latest Ratings for TSLA

Oct 2016Goldman SachsMaintainsNeutral
Oct 2016Goldman SachsDowngradesBuyNeutral
Sep 2016Cowen & Co.Initiates Coverage onUnderperform

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