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TSLA

Tesla

$288.92

-11.81 (-3.93%)

08:46
10/25/18
10/25
08:46
10/25/18
08:46

Tesla results changing company narrative, says Baird

Baird analyst Ben Kallo noted Tesla beat his and consensus estimates across the board, highlighted by strong free cash flow, which should help bolster the balance sheet and mitigate concerns over cash burn. The analyst feels the quarter should change the narrative on the company as it transitions to becoming sustainably profitable. Kallo reiterated his Buy rating and $411 price target on Tesla shares.

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TSLA Tesla
$288.92

-11.81 (-3.93%)

10/25/18
JMPS
10/25/18
NO CHANGE
Target $412
JMPS
Outperform
Tesla price target raised to $412 from $350 at JMP Securities
JMP Securities analyst Joseph Osha noted Tesla's Q3 results beat his estimates by "a decent margin" on the top line and "a dramatic margin" in terms of earnings, which demonstrates it is capable of generating positive earnings and cash flow as it shifts to a high-volume business model. Based on a moderately higher gross margin outlook for 2019 and 2020, and lower estimates for operating costs, he raised his price target on Tesla shares to $412 and keeps an Outperform rating on the stock.
10/25/18
JEFF
10/25/18
NO CHANGE
Target $360
JEFF
Hold
Tesla Q3 'materially de-stresses' balance sheet, says Jefferies
Jefferies analyst Philippe Houchois says Tesla's Q3 results "comfortably beat the high end of consensus and quality looks rather good" on all metrics. The quarter "materially de-stresses" Tesla's balance sheet and could support more leverage if the company can demonstrate more than one quarter of healthy free cash flow generation and sustained demand for Model 3, Houchois tells investors in a post-earnings research note titled "Q3 Balance Sheet Detox." The analyst keeps a Hold rating on Tesla with a $360 price target.
10/25/18
RBCM
10/25/18
NO CHANGE
Target $325
RBCM
Sector Perform
Tesla price target raised to $325 from $315 at RBC Capital
RBC Capital analyst Joseph Spak raised his price target on Tesla to $325 after its "strong" Q3 results were helped by the Model 3 heavy sales mix. The analyst notes that these results may be "sustainable" in the near term while the company figures out profitability for its lower-end Model 3 and anticipates some positive momentum for the stock but also keeps his Sector Perform rating on Tesla's "fair valuation".
10/25/18
MSCO
10/25/18
NO CHANGE
Target $291
MSCO
Equal Weight
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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