Were Tesla's Results Disappointing? Deutsche Bank Thinks So

Rod Lache of Deutsche Bank on Thursday commented in a note that

fourth quarter results and preliminary fiscal 2015 guidance were weaker than expected and disappointing. "Overall, we expect investors to be disappointed," Lache wrote. "While Tesla is a longer term story, execution of nearer term targets is critically important to driving investor confidence, even if execution is measured against very aggressive growth targets." The analyst adds that foreign exchange remains "by far the most significant" source of downside as the nine percent decline in the Euro since early December would on its own have a 300 basis point impact on gross margins. However, Lache does state that a long-term thesis that Electric Vehicles will achieve cost parity with Internal Combustion vehicles in the not too distant future remains unchanged and that Tesla is "well positioned" when this occurs.