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UPDATE: Deutsche Bank Raises PT on Tesla Motors Following 10-Q Takeaways

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In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Tesla Motors (NASDAQ: TSLA), and raised the price target from $35.00 to $50.00.

In the report, Poole noted, “In addition to noting key takeaways from Tesla's 10-Q, we are re-assessing our valuation framework and increasing target price to $50 from $35. We believe that the investor base is looking to 40k units as a realistic view of Model S demand once European and Asian markets are opened up. Our target price implies 10x EBITDA on 40k units and assuming ~14% EBIT margin. This is a modest premium to Porsche's 8x-9x multiple during its early ‘00's growth phase. Despite downside to our TP, we maintain Hold.”

Tesla Motors closed on Tuesday at $83.24.

Latest Ratings for TSLA

DateFirmActionFromTo
Jul 2017CitigroupInitiates Coverage OnNeutral
May 2017Independent ResearchInitiates Coverage OnHold
May 2017Morgan StanleyDowngradesOverweightEqual-Weight

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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