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In an equity research note Tuesday, Brian A. Johnson of Barclays maintained his Equal-Weight rating on
Tesla Motors IncTSLA, with his $190 price target unchanged. Johnson feels the near-term should be positive, but chasm-crossing challenges remain.
"Heading into Tesla's "much anticipated" product announcement on 4/30, Tesla stock should have momentum, with potential for positive trajectory beyond that – demand concerns are de-risked for now, China pressures have bottomed, and the 3Q Model X intro could generate buzz. Yet, consistent with our views in "Crossing the chasm is tougher than it looks," we maintain a more cautious structural stance given risks in becoming a mass-market OEM are not properly recognized."
Johnson also stated that beyond the potential for a "sell the news" reaction post the April 30 announcement, he believed the near-term flow of datapoints for Tesla was positive, which should support continued upward momentum for the stock.
Shares of Tesla closed Monday at $205.27, 8 percent above the $190 price target.
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