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How Global Automakers Could Meet $2.5 Trillion In Funding Needs For 100% EV Transition
Wednesday, January 13, 2021 - 4:44pm | 444Read More...Electric vehicle adoption is set to accelerate in the years to come amid the quest to cut down on pollution. An analyst at BofA Securities detailed how the EV revolution that is taking shape could impact the industry dynamics and the funding needs. Massive Funding Required: For EV adoption to...
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BofA Raises Tesla Price Target Following Stock Rally
Monday, January 11, 2021 - 12:47pm | 263Read More...Tesla Inc. (NASDAQ: TSLA) reported deliveries of 180,750 units for the fourth quarter of 2020, ahead of the Street estimates, and announced an equity distribution agreement to sell common stock worth up to $5 billion through an “at the market” offering program. The Tesla Analyst:...
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BofA Cautions Auto Investors After 'Too Fast And Furious Recovery'
Tuesday, November 17, 2020 - 3:04pm | 457Read More...Companies within the auto value chain reported "very good" third-quarter earnings, but the "too fast and furious recovery" implies investors should be more selective in their stock picking, according to BofA Securities. The Auto Analyst: John Murphy made the following rating...
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Wall Street Reacts To Ford's Strong Q3: 'Investors Are Getting Excited'
Thursday, October 29, 2020 - 10:44am | 606Read More...Automaker Ford Motor Company (NYSE: F) reported Wednesday with strong third-quarter results that were highlighted by a return to profitability. Here's how three Street analysts reacted to the print. The Ford Analysts Benchmark analyst Michael Ward maintains an Overweight rating on Ford...
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General Motors Stock Soars Ahead Of Hummer EV Reveal
Tuesday, October 20, 2020 - 2:05pm | 554Read More...General Motors Company (NYSE: GM) shares were rallying Tuesday ahead of the company’s highly anticipated debut of its fully electric Hummer truck. The GMC Hummer EV will be GM’s first attempt to compete directly against Tesla Inc (NASDAQ: TSLA) and its EV Cybertruck. The new electric...
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Analyst Predicts 'Initially Negative Reaction' In Auto Stocks If Democrats Sweep Election
Friday, October 9, 2020 - 3:40pm | 555Read More...The U.S. presidential election is less than a month away, and it will likely be a major catalyst for the stock market no matter how the votes end up falling. On Friday, Bank of America auto analyst John Murphy took a deep look into how the election could impact the U.S. auto industry. Key...
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California Executive Order On Combustion Engines Is A Goal, Not A Ban: Analyst
Tuesday, September 29, 2020 - 1:26pm | 521Read More...Last Wednesday, California Gov. Gavin Newsom signed an executive order to ban the sale of new gas-powered cars and pickup trucks in the state by 2035. BofA's Take On California Order: The wording of Executive Order N-79-20 reads as a goal instead of an order, BofA Securities...
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Tesla Analysts: Battery Day All About Costs, $100 kWh Milestone
Monday, September 21, 2020 - 3:34pm | 704Read More...All eyes remain on Tesla Inc (NASDAQ: TSLA) ahead of Tuesday's Battery Day event. 5 Battery Day Developments To Watch: BofA Securities named five key topics they think will be discussed: Improvement in battery cost, power density and range. Possible battery insourcing or deepening...
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'Best-In-Class Powertrain Technology Affirmed': Analysts React To GM-Nikola Partnership
Wednesday, September 9, 2020 - 12:47pm | 695Read More...Shares of General Motors Company (NYSE: GM) and Nikola Corporation (NASDAQ: NKLA) rallied on Tuesday after GM announced it's taking a $2 billion stake in the hydrogen fuel cell electric truck maker. As part of the companies’ new partnership, GM will produce Nikola’s first Badger...
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BofA Raises Tesla Price Target By 57%: 'No Need For Internal Funding'
Wednesday, September 2, 2020 - 8:25am | 452Read More...Tesla Inc (NASDAQ: TSLA) shares are up another 7.7% this week after the company completed its stock split on Monday and announced a $5 billion offering on Tuesday. On Wednesday, one Wall Street analyst raised his price target for Tesla and said the company no longer has pressure to self-fund its...
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BofA Upgrades Tesla, Doubles Price Target; Says Growth Story Could 'Carry The Day'
Friday, August 14, 2020 - 10:10am | 398Read More...With the stock up 600% in the past year, another one Wall Street bear threw in the towel on Tesla Inc (NASDAQ: TSLA) on Friday. The Tesla Analyst: Bank of America analyst John Murphy upgraded Tesla from Underperform to Neutral and raised his price target from $800 to $1,750. The Tesla Thesis: ...
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The Auto Industry Is Recovering 'Faster Than Expected,' Analyst Says
Tuesday, July 28, 2020 - 12:02pm | 512Read More...The global auto industry has been pounded by the COVID-19 outbreak. Fortunately for auto stock investors, Bank of America analyst John Murphy said Tuesday the auto industry appears to be bouncing back much more quickly than initially feared. The Numbers: Murphy is estimating a July seasonally...
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Tesla's Valuation Still 'Appears Overcharged' Following Q2 Earnings
Thursday, July 23, 2020 - 11:45am | 854Read More...Tesla Inc (NASDAQ: TSLA) reported a second-quarter earnings beat on Wednesday afternoon. Adjusted EPS of $2.18 on revenue of $6.04 billion both exceeded consensus analyst estimates of 3 cents and $5.37 billion, respectively. Perhaps more importantly, Tesla’s GAAP EPS of 50 cents...
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Why Tesla's $1,500 Stock Price Is 'Overheated,' Not Supported By Fundamentals
Wednesday, July 22, 2020 - 10:15am | 337Read More...The spike in Tesla Inc (NASDAQ: TSLA) in recent weeks seems to have been supported by moves in newer or niche technology stocks, the market’s preference for growth stocks and investors buying shares ahead of the company’s potential addition to the S&P500, according to BofA...
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BofA Dissects Auto Stocks, Says Q1 Reports Mostly Better Than 'Low Expectations'
Thursday, May 14, 2020 - 3:42pm | 475Read More...The auto sector reported earnings, and the group as a whole reported "generally better" results against "low expectations," according to BofA Securities' John Murphy. The Auto Sector Recap The auto sector kicked off 2020 on a difficult note with extended COVID-19-...
