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TSLA

Tesla

$288.92

-11.81 (-3.93%)

06:49
10/25/18
10/25
06:49
10/25/18
06:49

Tesla price target raised to $225 from $195 at JPMorgan

JPMorgan analyst Ryan Brinkman raised his price target for Tesla to $225 from $195 citing the company's sooner than expected profit and cash generation. The analyst expects a "strong positive reaction" to Tesla's "materially" better than expected Q3 results last night He points out that revenue, gross margin, earnings, and, most importantly in his view, free cash flow all tracked better than was expected. Brinkman now expects Tesla's first full year of positive earnings to be in 2019 versus 2020 prior. The analyst, however, keeps an Underweight rating on the shares. He cites valuation for the rating and concern that the new stronger trajectory to earnings and cash "may prove less sustainable than the market is likely to presume."

  • 29

    Oct

  • 13

    Dec

TSLA Tesla
$288.92

-11.81 (-3.93%)

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
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.
10/25/18
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.
10/25/18
PIPR
10/25/18
NO CHANGE
Target $396
PIPR
Overweight
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.

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