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Analyst: President-Elect Trump 'Is A God-Sent Gift To Tesla'

Analyst: President-Elect Trump 'Is A God-Sent Gift To Tesla'

Trip Chowdhry of Global Equities Research has made his uber-bullish position on Tesla Motors Inc (NASDAQ: TSLA) clear over the past few months. However, the analyst has turned incrementally bullish on the company with lots of credit being paid to President-elect Donald Trump.

In a research report on Tuesday, Chowdhry pointed out that the development of Tesla's factory in Buffalo, New York, hadn't progressed for many months, but this drastically changed after Tesla's CEO Elon Musk met with Trump.

Musk and a handful of technology leaders met with Trump and members of his transition team in early December. In addition, Musk and Trump met privately, and Chowdhry suggested that the conversation focused on moving forward with the GigaFactory project in Buffalo.

What Happened 15 Days Later?

According to Chowdhry, Trump acted with "velocity," and Tesla is moving forward with its factory. Approximately 1,400 jobs will be created in the Buffalo region and Panasonic committed to invest more than $250 million.

Production of the first PV module will begin in Summer 2017 and is expected to ramp up to 1 Gigawatt of module production by 2019.

Bottom line, the analyst proclaimed, "President Trump is a God-sent gift to Tesla."

Image Credit: By Michael Vadon (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Latest Ratings for TSLA

Apr 2021MizuhoMaintainsBuy
Apr 2021Canaccord GenuityUpgradesHoldBuy
Apr 2021JP MorganMaintainsUnderweight

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