Channel Checks Show Tesla Model X Owners 'Just Loving' Car, Compare Experience To 'Helicopter Cockpit'
Tesla Motors Inc (NASDAQ: TSLA) shares kicked off 2016 poorly, down nearly 6 percent from where they closed December.
The culprit was two-fold: A broader market selloff combined with fourth quarter shipments that hit the low end of the company's goal.
In a new note to subscribers, Global Equities Research analyst Trip Chowdhry explained why he is so optimistic about the stock and the Model X. Chowdhry holds a $385 price target on Tesla over the next 12 to 18 months.
See Also: How Tesla Stock Gets To $385
Early Customer Satisfaction Channel Checks
"We now know of 3 TSLA Model X Owners," Chowdhry said. "These owners have given rides to their family members, relatives and friends...they were so impressed by Model X, that they also reserved a Model X."
Chowdhry said Model X owners he's talked to "are just loving" the car, adding that they liken the experience to "sitting in a helicopter cockpit." The analyst predicts demand to continue to outpace Tesla's actual production.
Employees Highly Motivated
In a visit to an area Tesla factory, Chowdhry added that Tesla workers appear "high-energy and motivated...they were working on the New Year Weekend, as if it was a regular working day."
Chowdhry added that, according to his channel checks, the Model X is getting more "visible" in the Bay Area.
Tesla shares were flat on Tuesday. The company is estimated to report earnings in the second week of February.
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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