In a report published Thursday, Global Equities Research analyst Chowdhry reiterated an Overweight rating and price target of $385 on Tesla Motors, Inc. TSLA. The analyst expects the company to beat its guidance both in terms of deliveries and production for FY2015.
The analyst believes that Tesla Motors' fundamentals are strong and that the company could achieve auto deliveries of 62,000-65,000 in FY2015. "In 2Q'2015, TSLA has delivered 11,507 Units ahead of our estimate of about 11,250 Car Units; Tesla had guided to 10,000 to 11,000 Units delivered," Chowdhry reported.
The delivery numbers suggest that the company is likely to have produced about 13,450 car units in 2Q15, ahead of the estimate of 13,100 and the guidance of 12,500.
The analyst expects Tesla Motors' ASPs to have grown 5 percent, year on year, given that about 90 percent of the unit shipments were of Model D, which has higher ASPs.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in