UBS analyst Colin Langan raised his price target for Tesla shares to $230 from $190 after his firm's battery teardown indicated the company's cell costs will reach $111/kWh versus his prior estimate of $148/kWh. The stock closed yesterday down 84c to $353.47. The teardown implies the cost of the Model 3 will be $1,960 lower than previous expectations once the cells are at scale, Langan tells investors in a research note. It also suggests Tesla is ahead of the competition on both the chemistry and the battery management system, adds the analyst. Based on the lower cost battery and the inclusion of non-zero emission electric vehicle credits, Langan boosted his fiscal 2019 earnings per share estimate for Tesla by $5.85 to $3.55. Nonetheless, his new price target is still 35% below the current stock price. As a result, the analyst keeps a Sell rating on Tesla.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Notable profits for the buyer who lifted the $6.25 offer for 3,135 Tesla (TSLA) May-24 155 puts yesterday at 09:53ET when underlying shares were trading at $165.33. Shares closed at $161.48, and the puts at $7.84 for a mark-to-market profit of 25%, or $498K, on the $1959K outlay.

Tesla is focused on building a giant Texas datacenter for its robotaxi project, which is now a top priority, after postponing work on a cheaper vehicle, Electrek's Fred Lambert reports. The cheaper vehicle, codenamed NV9, sometimes referred to as Model 2, was expected to cost around $25,000, but Lambert writes that the program is "effectively scratched" right now as Tesla is putting all resources into its self-driving effort. Reference Link