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Chowdhry: Tesla Motors Inc Has 140% Upside, Is 'Only' Auto Company Growing This Fast

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Tesla Motors Inc (NASDAQ: TSLA) shares skyrocketed Wednesday after beating Wall Street's delivery guidance expectations. Although the company missed earnings and revenue consensus, Q1 delivery estimates were about 5 percent above expectations.

Full-year unit guidance was also above most estimates.

The beat echoes results of a Benzinga poll earlier in the day, where the majority of users said the most important data released would be unit guidance.

In a new note to subscribers, Global Equities Research analyst Trip Chowdhry said Tesla "fundamentals are strong." Chowdhry reiterates his Overweight rating on the stock and maintained his 12 to 18 month price target of $385.

Chowdhry's full-year unit guidance is 85,000 Model X and Model S cars in 2016, in the middle of Tesla's newly released 80,000 to 90,000 range. A few other highlights the analyst picked out of Tesla's report:

  • Q2 Model X production increased to 1,000 per week
  • Model 3 reveal to happen on March 31

Tesla is the "only growth company in the whole [auto] universe" growing revenues at its current clip in excess 60 percent year over year.

Shares are resting near $161 in Wednesday's after-hours session.

Latest Ratings for TSLA

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

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