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TSLA

Tesla

$208.46

-2.95 (-1.40%)

, SCTY

Bought by TSLA

$20.05

0.26 (1.31%)

10:20
10/06/16
10/06
10:20
10/06/16
10:20

Tesla sinks after Goldman cuts rating as SolarCity deal seen raising risk

The shares of Tesla (TSLA) are falling after Goldman Sachs downgraded the stock to Neutral from Buy, warning that the risk facing the company has increased. M&A INCREASES RISK: Tesla's decision to earmark additional capital for M&A, in the form of the proposed acquisition of SolarCity (SCTY), increases the risk facing Tesla's stock, wrote Goldman analyst David Tamberrino. Like Tesla, SolarCity is a "high growth, high cash burn business," the analyst noted. The combined company would have more risks than Tesla on its own, since the new entity would have higher capital needs, Tamberrino argues. Consequently, the combined company's debt levels may also be higher, the analyst warned. ESTIMATES COULD DROP: Slower than expected production of Tesla's Model 3 vehicle, along with increased SG&A spending and higher R&D expenditures, are poised to cause Tesla's 2017-2019 profits to come in significantly below expectations, according to Tamberrino. Specifically, the analyst expects the automaker's 2017-2019 earnings per share to be an average of 48% below the consensus outlook. TARGET: The analyst lowered his six month price target on Tesla to $185 from $240. PRICE ACTION: In early trading, Tesla dropped 3.5% to $201 per share.

TSLA

Tesla

$208.46

-2.95 (-1.40%)

SCTY

Bought by TSLA

$20.05

0.26 (1.31%)

TSLA Tesla
$208.46

-2.95 (-1.40%)

09/28/16
BARD
09/28/16
NO CHANGE
Target $338
BARD
Outperform
Baird estimates Tesla to report 21,000 deliveries for Q3
Baird analyst Ben Kallo said he expects Tesla (TSLA) to report its Q3 delivery figures by early next week, possibly on Monday, October 3, and he estimates the company will report 21,000 total deliveries, including 12,000 Model S deliveries and 9,000 Model X deliveries. Kallo thinks a delivery number above 20,000 vehicles will be viewed as positive and believes "shorts may return" to Tesla after the delivery announcement as the company's acquisition of SolarCity (SCTY)progresses. The analyst keeps an Outperform rating and $338 price target on Tesla shares.
10/03/16
OPCO
10/03/16
NO CHANGE
OPCO
Perform
Review process of SolarCity acquisition may be delayed, says Oppenheimer
Oppenheimer analyst Colin Rusch believes the SEC review process of Tesla's (TSLA) acquisition of SolarCity (SCTY) could be delayed due to recent activity, especially new litigation. Further, the analyst believes extension to the timeline is likely to work against the deal given the risk of ongoing "collaboration to trigger gun-jumping rules." Rusch reiterates a Perform rating on Tesla's shares.
10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Neutral
Tesla downgraded to Neutral from Buy at Goldman
Goldman analyst David Tamberrino downgraded Tesla to Neutral and lowered his price target to $185 from $240. Tamberrino sees incremental risk to Tesla's business related to management's willingness to deploy capital for M&A, and he believes that any delay in the company's new Model 3 launch will be detrimental to shares. The analyst said there is room for downward estimate revisions as volume ramps slower and spending grows. Tamberrino's 2016 earnigns estimate of (59c) is above the Street's (93c), but estimates for 2017 through 2019 are on average 48% below consensus.
10/06/16
GSCO
10/06/16
NO CHANGE
GSCO
Autos and Autos Parts sector downgraded to Cautious from Neutral at Goldman
Goldman analyst David Tamberrino downgraded the Autos and Auto Parts sector to Cautious from Neutral saying the US Auto cycle peaked in 2015 and is being held up by increasing OEM incentives. The analyst said OEM earnings will decline in 2017/2018 as negative pricing and lower production pressure North American results, but expects suppliers' earnings to hold up longer. The analyst sees upside to Delphi (DLPH) and Harman (HAR) given exposure to secular growth areas and upside to Goodyear Tire (GT) given secular HVA tire growth. Tamberrino downgraded Lear (LEA) to Sell citing elevated expectations and valuation, cut BorgWarner (BWA) to Neutral on valuation, downgraded Tesla (TSLA) to Neutral on execution risk and capital deployment, and upgraded AutoNation (AN) to Neutral given a more defensive business.
SCTY Bought by TSLA
$20.05

0.26 (1.31%)

09/30/16
ROTH
09/30/16
NO CHANGE
ROTH
Possible Chinese tariff cuts a negative for solar names, says Roth Capital
Roth Capital analyst Philip Shen noted media reports in China indicating that certain solar feed-in tariff levels may be cut by 23-52%, depending on region and project type, in January 2017. While there appears to be some confusion on which projects may qualify for the 2016 tariff ahead of the 2017 FIT stepdown, Shen tells investors that he sees the reports on the whole as more negative news for the industry. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SolarCity (SCTY), SunEdison (SUNEQ), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).
10/06/16
AXIO
10/06/16
UPGRADE
AXIO
Hold
SolarCity upgraded to Hold from Sell at Axiom
10/06/16
AXIO
10/06/16
NO CHANGE
AXIO
Axiom upgrades solar sector sector to Overweight from Underweight
As previously reported, Axiom analyst Gordon L. Johnson II upgraded several stocks in the solar sector, including raising his ratings on Yingli Green Energy (YGE) to Buy from Sell, Trina Solar (TSL) to Buy from Sell, JA Solar (JASO) to Buy from Sell and SolarCity (SCTY) to Hold from Sell. The firm has also upgraded its solar sector rating to Market Overweight from Market Underweight, as they believe China's proposed Jul. 1, 2017 tariff cut will usher in about 25GW of 1H17 Chinese "pull-in" demand and that a possible election win by Hillary Clinton would serve as sentiment tailwind pushing clean energy funds to "refocus" on solar stocks.

TODAY'S FREE FLY STORIES

V

Visa

$102.90

-2.665 (-2.52%)

14:50
09/25/17
09/25
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14:50
Options
Bullish option play opened in Visa as shares slump »

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RHT

Red Hat

$105.41

-0.89 (-0.84%)

14:49
09/25/17
09/25
14:49
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14:49
Options
Red Hat options imply 10.7% move in share price post-earnings, above median historical move »

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APRN

Blue Apron

$5.47

0.28 (5.40%)

14:45
09/25/17
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14:45
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Options
Blue Apron call volume above normal and directionally bullish »

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TRIP

TripAdvisor

$44.37

0.125 (0.28%)

, PCLN

Priceline

$1,862.13

-4.22 (-0.23%)

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TRIP

TripAdvisor

$44.37

0.125 (0.28%)

PCLN

Priceline

$1,862.13

-4.22 (-0.23%)

TRVG

trivago

$10.70

-0.04 (-0.37%)

EXPE

Expedia

$145.77

2.65 (1.85%)

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DY

Dycom

$81.51

-1.185 (-1.43%)

14:36
09/25/17
09/25
14:36
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14:36
Conference/Events
Dycom management to meet with Stephens »

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  • 26

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DY

Dycom

$81.56

-1.13 (-1.37%)

14:35
09/25/17
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14:35
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14:35
Options
Dycom put volume heavy and directionally bearish »

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  • 26

    Sep

AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

14:31
09/25/17
09/25
14:31
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14:31
Technical Analysis
Technical View: Amazon.com falls, topping process confirmed »

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  • 03

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DIS

Disney

$99.37

0.77 (0.78%)

14:27
09/25/17
09/25
14:27
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14:27
Recommendations
Disney analyst commentary  »

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  • 09

    Nov

ESV

Ensco

$5.77

0.53 (10.11%)

14:25
09/25/17
09/25
14:25
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14:25
Options
Ensco call volume above normal and directionally bullish »

Bullish option flow…

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  • 02

    Oct

  • 05

    Oct

NFLX

Netflix

$187.35

-1.43 (-0.76%)

14:21
09/25/17
09/25
14:21
09/25/17
14:21
Technical Analysis
Technical View: Netflix trades near lows of the day »

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  • 02

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$NSD

NASDAQ Market Internals

14:17
09/25/17
09/25
14:17
09/25/17
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
09/25/17
09/25
14:16
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14:16
Technical Analysis
NYSE market internals summary »

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GREK

Global X MSCI Greece ETF

$9.18

-0.635 (-6.47%)

14:10
09/25/17
09/25
14:10
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14:10
Options
MSCI Greek Fund puts are active as shares falter »

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AMD

AMD

$13.30

-0.11 (-0.82%)

, NVDA

Nvidia

$179.00

-1.76 (-0.97%)

14:08
09/25/17
09/25
14:08
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14:08
Hot Stocks
AMD, NVIDIA fall after Intel unveils next generation of core processors »

Shares of AMD (AMD) and…

AMD

AMD

$13.30

-0.11 (-0.82%)

NVDA

Nvidia

$179.00

-1.76 (-0.97%)

INTC

Intel

$37.18

-0.02 (-0.05%)

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  • 05

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HLF

Herbalife

$67.51

-0.06 (-0.09%)

14:06
09/25/17
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14:06
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Hot Stocks
FTC grants Carl Icahn clearance for additional Herbalife purchases »

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YY

YY

$80.52

4.45 (5.85%)

14:05
09/25/17
09/25
14:05
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14:05
Options
YY call volume above normal and directionally bullish »

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14:05
09/25/17
09/25
14:05
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14:05
General news
Treasury Option Action: heavy put spread demand at the short-end »

Treasury Option Action:…

RCII

Rent-A-Center

$10.80

-0.07 (-0.64%)

13:55
09/25/17
09/25
13:55
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13:55
Options
Rent A Center put volume heavy and directionally bearish »

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13:55
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Conference/Events
Senate Finance Committee holds a hearing »

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GS

Goldman Sachs

$230.10

-0.93 (-0.40%)

13:54
09/25/17
09/25
13:54
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13:54
Periodicals
Symphony to raise $100M to expand, The Information says »

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AMDA

Amedica

$0.33

0.005 (1.56%)

13:50
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09/25
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Downgrade
Amedica rating change  »

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  • 26

    Sep

SCWX

SecureWorks

$12.57

0.15 (1.21%)

13:47
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Breaking Hot Stocks news story on SecureWorks »

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DVN

Devon Energy

$36.59

0.81 (2.26%)

13:45
09/25/17
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Options
Devon Energy call volume above normal and directionally bullish »

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  • 01

    Nov

13:45
09/25/17
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General news
Treasury Action: coupon supply commences Tuesday »

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ADP

ADP

$108.16

1.37 (1.28%)

13:43
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Pershing: ADP overstates shareholder return during CEO's tenure »

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