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TSLA

Tesla

$288.92

-11.81 (-3.93%)

07:40
10/25/18
10/25
07:40
10/25/18
07:40

Tesla reported 'strongest quarter in its history,' says Morgan Stanley

Morgan Stanley analyst Adam Jonas said Tesla's Q3 was "its strongest quarter in history by virtually every metric," adding that its Q4 guidance implies slightly lower gross margins and positive free cash flow. The quality of cash flow was stronger than expected, added Jonas, who believes one of the most important debates for Tesla is when they can become self-sufficient on free cash flow. While he raised his estimates "materially" following the much stronger than expected Q3 results and free cash flow, Jonas continues to question the sustainability of these results and keeps an Equal Weight rating on Tesla shares with an unchanged price target of $291.

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TSLA Tesla
$288.92

-11.81 (-3.93%)

10/25/18
JPMS
10/25/18
NO CHANGE
Target $225
JPMS
Underweight
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."
10/25/18
LEHM
10/25/18
NO CHANGE
Target $210
LEHM
Underweight
Tesla results put 'extreme bear case to rest,' says Barclays
The cash generation and stronger margin performance in Tesla's Q3 "put the 'extreme' bear case to rest for a while but doesn't dispel the valuation debate," Barclays analyst Brian Johnson tells investors in a post-earnings research note titled "Extreme bear fears of distress prove misplaced." Further, the analyst feels that while Tesla's profit and improvement "was impressive," it comes after a "rich Model 3 mix" that's unlikely to be replicated. Tesla will soon be facing flat sequential revenue growth and by year-end 2019, slower year-over-year growth, says Johnson. The analyst keeps an Underweight rating on Tesla, but admits he does not have "near-term hopes" of seeing his $210 price target. However, he believes Tesla's "stabilizing growth" makes his "long-term valuation more realistic."
10/25/18
NEED
10/25/18
NO CHANGE
NEED
Underperform
Concerns over Tesla margins remains after profitable Q3, says Needham
Needham analyst Rajvindra Gill kept his Underperform rating on Tesla, saying that while the company posted its first quarterly profit and positive free cash flow in over two years in Q3 thanks to higher-margin Model 3 sales, he remains concerned over margin in the first half of 2019. The analyst cites an "unfavorable mix shift of Model 3s, decline in ZEV sales, service margins stay in -35-40% and pricing pressure on Model S/X". Gill also questions the speed and profitability of Tesla's production of a $45K car, "not to mention the $35K version", in order to match its backlog of orders.
10/25/18
NOMU
10/25/18
NO CHANGE
Target $300
NOMU
Neutral
Tesla may now be 'sustainably self-funded entity,' says Nomura Instinet
Tesla "flexed its model leverage muscles" in Q3, exhibiting a "dramatic swing from negative to positive on a number of key metrics," Nomura Instinet analyst Romit Shah tells investors in a post-earnings research note titled "From Negative to Positive." These included Model 3 gross margins, earnings, and most importantly, cash flow, says Shah. He points out that Tesla reiterated its confidence in continued profitability and free cash flow positivity in every period going forward. In other words, Q3 may mark the quarter in which Tesla became a "sustainably self-funded entity," contends Shah. He keeps a Neutral rating on the shares with a $300 price target. The stock in premarket trading is up 11%, or $30.65, to $319.15.

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HP Inc.

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HPQ

HP Inc.

$19.20

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TCCO

Technical Comm Corp

$3.48

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HPQ

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-0.095 (-0.49%)

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RST

Rosetta Stone

$24.93

1.135 (4.77%)

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CCF

Chase Corporation

$100.72

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