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Channel Checks Show Tesla Model X Owners 'Just Loving' Car, Compare Experience To 'Helicopter Cockpit'

Channel Checks Show Tesla Model X Owners 'Just Loving' Car, Compare Experience To 'Helicopter Cockpit'
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Tesla Motors Inc (NASDAQ: TSLA) shares kicked off 2016 poorly, down nearly 6 percent from where they closed December. 

The culprit was two-fold: A broader market selloff combined with fourth quarter shipments that hit the low end of the company's goal.

In a new note to subscribers, Global Equities Research analyst Trip Chowdhry explained why he is so optimistic about the stock and the Model X. Chowdhry holds a $385 price target on Tesla over the next 12 to 18 months.

See Also: How Tesla Stock Gets To $385

Early Customer Satisfaction Channel Checks

"We now know of 3 TSLA Model X Owners," Chowdhry said. "These owners have given rides to their family members, relatives and friends...they were so impressed by Model X, that they also reserved a Model X."

Chowdhry said Model X owners he's talked to "are just loving" the car, adding that they liken the experience to "sitting in a helicopter cockpit." The analyst predicts demand to continue to outpace Tesla's actual production.

Employees Highly Motivated

In a visit to an area Tesla factory, Chowdhry added that Tesla workers appear "high-energy and motivated...they were working on the New Year Weekend, as if it was a regular working day."

Chowdhry added that, according to his channel checks, the Model X is getting more "visible" in the Bay Area.

Tesla shares were flat on Tuesday. The company is estimated to report earnings in the second week of February.

Latest Ratings for TSLA

Apr 2018Morgan StanleyMaintainsEqual-WeightEqual-Weight
Apr 2018Vertical GroupInitiates Coverage OnSell
Apr 2018JefferiesUpgradesUnderperformHold

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

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