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TSLA

Tesla

$356.04

0.48 (0.13%)

04:47
08/14/18
08/14
04:47
08/14/18
04:47

Musk says Tesla working Silver Lake, Goldman Sachs on going private

Tesla CEO Elon Musk tweeted last night, "I'm excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private." Tesla shares in premarket trading are up $2.29 to $358.70.

  • 29

    Oct

TSLA Tesla
$356.04

0.48 (0.13%)

08/10/18
MSCO
08/10/18
NO CHANGE
Target $291
MSCO
Equal Weight
Morgan Stanley says Tesla LBO doesn't seem feasible, equity buyout might be
Morgan Stanley analyst Adam Jonas said a leveraged buyout, or LBO, of Tesla does not appear to be feasible, even with less than $10B of incremental debt. However, he believes Tesla could consider an auction for its shares in the private equity market, financed by existing shareholders, new strategic investors, the possible divestiture of assets such as Tesla's autonomous and shared mobility assets and "possibly some help from SpaceX." However, Jonas notes that he has no knowledge of an equity buyout, or EBO, being considered by the company. He maintains an Equal Weight rating and $291 price target on Tesla shares.
08/08/18
08/08/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. REACTIONS TO TESLA'S TALK OF GOING PRIVATE: Jefferies analyst Philippe Houchois raised his price target for Tesla (TSLA) to $360 from $250 after CEO Elon Musk suggested taking the company private. Going private "feels like the right thing to do," Houchois said. "Distraction or not, the move feels right even if Musk is downplaying how supportive public markets have been," the analyst adds. However, with Tesla unable to take on more debt, Houchois wondered who may fund the potential deal and end up as a new large shareholder. While Morgan Stanley analyst Adam Jonas sympathizes with Elon Musk's argument that Tesla could be better off as a private company, he questioned the feasibility of Musk actually being able to achieve that goal. Taking the company private would assume either that the company is on the verge of generating self-sustaining cash flows or that it can tap into a range of strategic sources of capital not previously at its disposal, said Jonas, who sees strategic value at Tesla but thinks the "LBO math required to support [a price of] $420 is extremely aggressive." MORGAN STANLEY SAYS SOUTHWEST A GOOD FIT FOR BERKSHIRE: Morgan Stanley analyst Kai Pan noted that Berkshire Hathaway (BRK.A) has shifted tone in recent years and become a top three shareholder of the "Big Four" U.S. airlines, including Southwest (LUV). Media reports from Forbes, CNN and others have discussed a possible acquisition by Berkshire of the airline, added Pan. He analyzed a theoretical acquisition and came to the conclusion that Southwest could be a strategic fit for Berkshire and the advantages could also be compelling for the airline. Pan estimates Berkshire could pay a 20-40% premium, or $70-80 per share for Southwest, in such a hypothetical takeover situation. Pan has an Overweight rating and $67 price target on Southwest shares. BARCLAYS POSITIVE ON SNAP GUIDANCE CHANGE: Barclays analyst Ross Sandler views Snap's (SNAP) Q2 results as a "mixed bag," with daily active users 2M below his estimate and revenue $20M above his estimate. More importantly, the change in approach towards guidance is "very welcomed and should help to reduce some of the volatility going forward," Sandler said. He believes this is a "big positive for long-term holders looking to get involved." The analyst kept an Overweight rating on Snap with a $16 price target. WAINWRIGHT SAYS INSMED LIKELY TO BE ACQUIRED: H.C. Wainwright analyst Andrew Fein raised his price target for Insmed (INSM) to $43 from $35 following the 12-2 FDA panel vote in favor of ALIS in refractory nontuberculous mycobacterial patients. Insmed is now likely to be acquired as ALIS "fits well within the pipeline of a number of larger companies," Fein said.
08/08/18
RBCM
08/08/18
NO CHANGE
Target $110
RBCM
Outperform
RBC Capital revisits idea of Celgene going private after Tesla proposal
Following yesterday's news that Tesla (TSLA) CEO Elon Musk would like to see his company go private, RBC analyst Brian Abrahams revisited his prior analysis of whether Celgene (CELG) should go private in order to better capture the medium-term value of future Revlimid cash flows not being appreciated by public markets and avoid volatility as it transitions to a post-Revlimid business model. Though acknowledging that the two companies are in completely different industries, he thinks the example of Musk shows that performing such a transaction on a large company "may not be completely unrealistic," Abrahams said. Such an LBO, or perhaps more likely an acquisition by a larger pharmaceutical company, could possibly help capture more value from Celgene's commercial and pipeline products, concludes Abrahams, who has an Outperform rating and $110 price target on Celgene shares.
08/08/18
BARD
08/08/18
NO CHANGE
Target $411
BARD
Outperform
Tesla $420 buyout price mentioned by Musk too low, says Baird
Baird analyst Ben Kallo believes the Tesla buyout price of $420 mentioned by Elon Musk is too low. He expects the shares to trade above that mark as investors will demand a higher premium, which will coincide with short covering. Kallo reiterated his Outperform rating and $411 price target on Tesla shares.

TODAY'S FREE FLY STORIES

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NN, Inc.

$15.65

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THR

Thermon Group

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TSLX

TPG Specialty Lending

$20.56

-0.15 (-0.72%)

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CLAR

Clarus Corporation

$10.45

-0.3 (-2.79%)

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AMSC

AMSC

$6.33

-0.265 (-4.02%)

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TRU

TransUnion

$73.68

-0.62 (-0.83%)

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General news
Richmond Fed Manufacturing Index Level to be reported at 10:00 »

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AdvaMed to hold a conference »

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IMPV

Imperva

$46.70

1.05 (2.30%)

, FIVN

Five9

$43.51

0.3 (0.69%)

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FIVN

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0.3 (0.69%)

CDAY

Ceridian

$42.29

0.225 (0.53%)

MSFT

Microsoft

$114.72

0.02 (0.02%)

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TEN

Tenneco

$44.59

-0.9 (-1.98%)

04:55
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Conference/Events
Tenneco management to meet with JPMorgan »

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SWCH

Switch

$10.85

-0.21 (-1.90%)

04:55
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  • 25

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LBTYA

Liberty Global

$28.37

-0.87 (-2.98%)

04:55
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Conference/Events
Liberty Global management to meet with Wolfe Research »

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SRNE

Sorrento Therapeutics

$4.23

-0.075 (-1.74%)

04:55
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Sorrento Therapeutics management to meet with Evercore ISI »

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  • 25

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Stephens real estate services analyst to hold group luncheon »

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Stephens retail/broadlines analyst to hold a luncheon meeting »

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UBS waste market/recycling analyst to hold an analyst/industry conference call »

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ARKAY

Arkema

$0.00

(0.00%)

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WTW

Weight Watchers

$72.88

3.11 (4.46%)

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  • 25

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YGYI

Youngevity

$5.80

0.8 (16.00%)

04:55
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Youngevity management to meet with Benchmark »

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COOL

PolarityTE

$0.00

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Conference/Events
PolarityTE management to meet with Evercore ISI »

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  • 25

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NVDA

Nvidia

$265.72

2.28 (0.87%)

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Conference/Events
Nvidia management to meet with Evercore ISI »

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COWN

Cowen Group

$16.00

0.1 (0.63%)

04:55
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Conference/Events
Cowen Group management to meet with JMP Securities »

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STRA

Strategic Education

$137.53

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LLESY

Lendlease Group

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NGG

National Grid

$51.46

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