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."