Jefferies Reiterates Buy Rating, $39 PT on Tesla Motors

In a report published Wednesday, Jefferies & Company reiterated its Buy rating and $39.00 price target on Tesla Motors TSLA. Jefferies noted, “We lower our 3Q ests ahead of the Q to account for a slower ramp of prod following our plant tour & discussions with TSLA mgmt at the recent Model S drive event. We expect 2Q12 to be in line with guide of roughly flat rev with 1Q12; however, we expect the Street will need to lower 3Q12 ests. Our FY2012/13 ests are UNCH. We believe that any weakness tied to a 3Q12 earnings expectation reset should be viewed as a buying opp.” Tesla Motors closed on Tuesday at $35.96.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorReiterationAnalyst RatingsJefferies & Company
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!