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TSLA

Tesla

$288.92

-11.81 (-3.93%)

06:30
10/25/18
10/25
06:30
10/25/18
06:30

Piper boosts Tesla price target to $396 after 'milestone' quarter

Piper Jaffray analyst Alexander Potter raised his price target for Tesla to $396 from $389 following last night's Q3 results. Tesla reported a "milestone quarter," with margins, earnings, and cash flow easily beating expectations, Potter tells investors in a research note. While there is a still a lot of "hair" on this company, bears will struggle to poke holes in the results, Potter contends. He believes that with Tesla achieving high-volume production of Model 3 sedans, additional capital raises are probably not necessary. Tesla appears increasingly likely to achieve financial self-sufficiency, says Potter. The analyst reiterates an Overweight rating on Tesla shares, which are up 8%, or $22.60, to $311.10 in premarket trading.

  • 29

    Oct

  • 13

    Dec

TSLA Tesla
$288.92

-11.81 (-3.93%)

10/25/18
UBSW
10/25/18
NO CHANGE
Target $190
UBSW
Sell
Don't get used to Tesla's profitability, says UBS
In a post-earnings research note titled "Profitability at last, just don't get used to it," UBS analyst Colin Langan keeps a Sell rating on Tesla with a $190 price target following last night's Q3 results. Higher Model 3 pricing was likely the biggest driver of the margin beat in Q3, the analyst contends. He notes that Tesla's free cash flow of $900M came in above his $500M estimate due to lower capital expenditures, a higher than expected accrued liabilities benefit, and higher earnings. Langan, however, continues to expect Model 3 average selling prices to decline into Q4 and 2019 as Tesla begins delivering the new $46,000 mid-range model.
10/24/18
10/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Outperform at JMP Securities. 2. Comcast (CMCSA) resumed with a Buy at Deutsche Bank, reinstated with a Buy at Citi, and assumed with a Neutral at Guggenheim. 3. 2U (TWOU) initiated with a Buy at Needham. 4. Corbus Pharmaceuticals (CRBP) initiated with a Buy at B. Riley FBR. 5. Entasis Therapeutics (ETTX) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/24/18
JMPS
10/24/18
INITIATION
Target $350
JMPS
Outperform
Tesla initiated with an Outperform at JMP Securities
JMP Securities analyst Joseph Osha initiated Tesla with an Outperform rating and $350 price target, calling it a "rapidly growing company, with a still-shaky balance sheet, and a brilliant but often-volatile leader." He believes the scale of the electric vehicle market is not at issue, as he thinks it can support a unit growth rate of 20%-30% for the coming decade. A bigger priority for Tesla will be addressing the price points necessary to maintain the company's position, though Osha contends that competition reacted slowly to Tesla, and is still behind.
10/24/18
UBSW
10/24/18
NO CHANGE
Target $190
UBSW
Sell
Tesla pricing setup likely drives temporary profit, says UBS
UBS analyst Colin Langan noted his Q3 estimates for Tesla are above consensus as it reflects his view that Q3 will benefit from abnormally high average selling prices for the Model 3. The analyst believes the current pricing of $49K will make the cars profitable, but he does not see sufficient demand at that price point . Langan reiterated his Sell rating and $190 price target on Tesla shares.

TODAY'S FREE FLY STORIES

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ADM

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  • 13

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JCP

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$0.93

0.022 (2.42%)

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Dillard's

$56.57

0.25 (0.44%)

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2.17 (2.73%)

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  • 12

    Jun

JPM

JPMorgan

$109.78

1.14 (1.05%)

, AKZOY

AkzoNobel

$0.00

(0.00%)

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$126.23

0.04 (0.03%)

CMWAY

Commonwealth Bank of Australia

$0.00

(0.00%)

SIEGY

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$0.00

(0.00%)

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AT&T

$32.29

0.15 (0.47%)

RDS.A

Royal Dutch Shell

$63.29

0.84 (1.35%)

RHHBY

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$0.00

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GM

General Motors

$35.13

0.01 (0.03%)

, TSLA

Tesla

$190.80

-4.7 (-2.40%)

13:19
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GM

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$35.13

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TSLA

Tesla

$190.80

-4.7 (-2.40%)

03/08/13
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  • 04

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RNLSY

Renault

$0.00

(0.00%)

13:14
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FMC

FMC Corporation

$70.88

-0.47 (-0.66%)

, DWDP

DowDuPont

$31.10

0.16 (0.52%)

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FMC

FMC Corporation

$70.88

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DWDP

DowDuPont

$31.10

0.16 (0.52%)

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  • 29

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MGM

MGM Resorts

$25.55

0.19 (0.75%)

13:03
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  • 29

    May

PYPL

PayPal

$109.82

-0.09 (-0.08%)

, AXP

American Express

$119.52

1.07 (0.90%)

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PYPL

PayPal

$109.82

-0.09 (-0.08%)

AXP

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1.07 (0.90%)

MA

MasterCard

$251.40

1.57 (0.63%)

V

Visa

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GOOG

Alphabet

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-7.56 (-0.66%)

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GM

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$35.13

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HMC

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$25.45

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TM

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UBER

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  • 30

    May

APTO

Aptose Biosciences

$2.01

0.03 (1.52%)

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  • 04

    Jun

TRNX

Taronis Technologies

$0.48

0.004 (0.84%)

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

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AAPL

Apple

$179.03

-0.64 (-0.36%)

17:22
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  • 03

    Jun

SPCB

SuperCom

$1.17

-0.005 (-0.43%)

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USEG

U.S. Energy

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0.0373 (9.10%)

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

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NVS

Novartis

$87.49

3.03 (3.59%)

, QGEN

Qiagen

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NVS

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QGEN

Qiagen

$38.22

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AVH

Avianca

$3.96

0.91 (29.84%)

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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
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  • 03

    Jun

SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

16:52
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  • 13

    Jun

CREG

China Recycling Energy

$0.48

0.005 (1.05%)

16:41
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