Market Overview

Sifting Through Patent Applications Gives A Glimpse Of Tesla's Innovations

Sifting Through Patent Applications Gives A Glimpse Of Tesla's Innovations
Related TSLA
Heartbreak And Desire: 11 Of Our Favorite Wall Street Love Stories
Benzinga's Top Upgrades, Downgrades For February 13, 2018
Should We Make 'Charitable Investments?' Is There Such A Thing? (Seeking Alpha)

Ben Kallo of Baird reiterated an Outperform rating and $368 price target on Tesla Inc (NASDAQ: TSLA)'s stock after taking a deep-dive into the company's patent applications.

New Patents

Kallo uncovered 10 new patent applications that have been filed from January through March. Among the more notable applications includes a patent for hidden ultrasonic sonar assembly and an air filtration with a high-efficiency filter.

Other applications focus on vehicle safety and performance, which is notable since the company already boasts a strong safety track record and demonstrates management's commitment to further improve the safety and functionality of its products.

Kallo also suggested that Tesla will be active in designing new technology and patents for its gigafactory, solar offerings and other products.

Upcoming Catalysts

While the analyst will continue keeping a watchful eye on new patents, his bullish stance remains unchanged given six notable catalysts, including:

    1. Production ramp of vehicles.
    2. Gross margin expansion.
    3. Expansion and updates of the gigafactory.
    4. Production and upcoming launch of the Model 3 vehicle.
    5. Ramp of Tesla Energy.
    6. The potential for new product announcements.

Bottom line, Kallo also reaffirmed Tesla as the firm's "top idea for 2017" given the multiple catalysts ahead.

Related Links:

Despite Record Q1 Deliveries, Some Investors Still Question Tesla's 'Inconsistent' Operational Performance

Tesla's Irreplicable Panache Merits An Upgrade

Latest Ratings for TSLA

Feb 2018Citic SecuritiesInitiates Coverage OnBuy
Oct 2017Evercore ISI GroupDowngradesOutperformIn-Line
Oct 2017Morgan StanleyMaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas Reiteration Topics Travel Top Stories Analyst Ratings Tech Best of Benzinga


Related Articles (TSLA)

View Comments and Join the Discussion!