Analysts at Pacific Crest remain bullish on Tesla Motors Inc (NASDAQ: TSLA), and see electric vehicle struggles do not apply to Tesla.
Brad Erickson stated, “Given Tesla's high degree of differentiation from all other OEM strategies around EVs, we do not believe this is likely to impede the company's ability to execute over the next several years.”
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Analysts found that Tesla’s Model X pre order levels make it hard to bet against the stock. Recent independent blog reports suggest that Model X reservations have crested 20,000 units. When Pacific Crest looked into this number from Tesla’s sales center; they found this figure the accurate. Given that the Model X is still three quarters away from launching; this number is likely to increase significantly.
Shares of Tesla Motors closed Thursday’s session at $263.82 up 0.93 percent.