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Edmunds.com Analyst: Tesla Needs To Launch The Model X

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Speaking to Benzinga, Edmunds.com Senior Analyst Jessica Caldwell says that Tesla Motors Inc (NASDAQ: TSLA) needs the Model X to complement its line up and “increase its exposure to a broader customer base.” The Model X, which the company said is still expected in Q3, was originally expected in 2014 before succumbing to delays.

Caldwell also says that China, which was expected to be a source of “major incremental sales,” has now stalled Tesla’s growth. In comments last night, Tesla CEO Elon Musk disagreed, saying that concerns in China were overstated. “The China thing has been blown way out of proportion,” he said.

Edmunds still has a positive outlook on Tesla, but is concerned about the Model X and “increasing competition from vehicles like the BMW i3 and i8.”

Mark Meadows and Brianna Valleskey contributed to this report.

Latest Ratings for TSLA

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

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