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Tesla's Model X Is 'A Technology Masterpiece'

Tesla's Model X Is 'A Technology Masterpiece'
  • Elon Musk unveiled Tesla Motors Inc (NASDAQ: TSLA)’s new Model X on Tuesday.
  • Global Equity Research believes the Model X will be a huge hit for Tesla.
  • The firm maintains its $385 target for Tesla’s stock.

Tesla CEO Elon Musk unveiled the company’s highly-anticipated Model X on Tuesday, and Global Equities Research was part of the 5,000-member audience at the event. In a new note, the firm updated its outlook for Tesla following the unveiling and outlined what investors can expect from the Model X down the road.

About The Model X

The Model X is somewhat of an SUV crossover, defined by its power and stylish, futuristic falcon-wing doors. It has seven seats, but can accelerate to 60 mph as quickly as a Porsche 911.

Related Link: Tesla's Model X Launch Seeing Mixed Sentiment From The Pros

“The Model X is going to be a phenomenal car,” Musk said. With a reported price tag upwards of $132,000 for the P90D Signature and $142,000 for the P90D Founder editions, the Model X has a lot to live up to.

‘Technology Masterpiece’

Global Equities Research was very pleased by the unveiling and sees the Model X as a work of engineering art. “TSLA Model X will be a phenomenal success-demand for Model X will outstrip the supply,” the firm’s note read.

Analyst Trip Chowdhry is projecting that Tesla could deliver 89,000 auto units in fiscal 2016 and maintains its $385 target for Tesla’s stock based on 5.4x projected 2016 revenue of $9.11 billion.

“We are increasingly getting confident that TSLA will be able to achieve 1,600 to 1,800 per week production capacity in CY2016,” the firm added.

Order Now

For those interested in owning a Model X, Tesla has updated its website with new information on the vehicle. Buyers who want to reserve a Model X must make a $5,000 down payment to place a reservation.

Disclosure: the author holds no position in the stocks mentioned.

Latest Ratings for TSLA

Apr 2021MizuhoMaintainsBuy
Apr 2021Canaccord GenuityUpgradesHoldBuy
Apr 2021JP MorganMaintainsUnderweight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings


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