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TSLA

Tesla

$292.16

4.46 (1.55%)

08:18
04/04/19
04/04
08:18
04/04/19
08:18

Tesla growth narrative 'looks very suspect' after 'ugly' Q1 report, says Cowen

Cowen analyst Jeffrey Osborne said Tesla's "very weak" Q1 production and delivery results "should make bulls nervous" as he contends that the company's growth narrative "looks very suspect" following the report that deliveries were down 31% and production was cut 11% compared to Q4. Tesla management reiterated "the lowest of its several guidance versions," but Osborne believes that lower range is still very aggressive given low demand for the Model S/X and the company's likely need to manage the Model 3 mix to stay profitable. Osborne keeps an Underperform rating on Tesla shares and lowered his price target on the stock to $170 from $180.

  • 22

    Apr

TSLA Tesla
$292.16

4.46 (1.55%)

04/04/19
ADAM
04/04/19
NO CHANGE
Target $391
ADAM
Buy
Tesla price target lowered to $391 from $450 at Canaccord
Canaccord analyst Jed Dorsheimer lowered his price target on Tesla shares to $391 from $450 after the company reported lower-than-expected deliveries for Q1 despite improved overall production that appears to have past the previous growing pains. While Dorsheimer tells investors in a research note that he was "disappointed" in the shortfall of deliveries in Q1 versus expectations, he continues to believe that the new lower-priced Model 3 variant will spur additional demand. He maintains a Buy rating on Tesla given the overall opportunity that he sees for Tesla and electric vehicles in general.
04/04/19
GSCO
04/04/19
NO CHANGE
Target $210
GSCO
Sell
Tesla disappointing Q1 results will fuel demand concerns, says Goldman Sachs
Goldman Sachs analyst David Tamberrino noted that Tesla's Model S/X and Model 3 deliveries came in well below his estimates and consensus expectations in Q1, adding that production levels also disappointed in the quarter with Model 3 weekly production averaging about 4,800, which was below his estimate of 5,500 vehicles per week. While the company reaffirmed its 2019 delivery guidance of 360,000-400,000, Tamberrino thinks the disappointing Q1 results will likely put pressure on consensus estimates for the full year. Overall, the delivery results support his belief that volume expectations for 2019 are too high and will likely fuels bearish investors' concerns about waning demand, said Tamberrino, who reiterates his Sell rating and $210 price target on Tesla shares.
04/04/19
WEDB
04/04/19
NO CHANGE
Target $365
WEDB
Outperform
Tesla price target lowered to $365 from $390 at Wedbush
Wedbush analyst Daniel Ives lowered his price target for Tesla to $365 from $390 to reflect lower deliveries and a higher chance of capital raise now on the horizon. The analyst notes that Tesla has reported its Q1 production and delivery numbers as well as the number of vehicles currently in transit to customers. Ives notes that the Street was expecting an apocalyptic quarter and Model 3 deliveries were slightly better than feared by many with 50k Model 3 vehicles the "line in the sand." Nonetheless, the overall number was "clearly rocky" and represents an "air pocket" quarter, he contends. The analyst reiterates an Outperform rating on the shares.
04/04/19
BARD
04/04/19
NO CHANGE
Target $465
BARD
Outperform
Tesla estimates lowered on lower deliveries, margins at Baird
Baird analyst Ben Kallo maintained an Outperform rating and $465 price target on Tesla after Model 3 deliveries came in line with expectations, though Model S and X deliveries both his and consensus estimates. Kallo says a high number of cars in transit at the end of the quarter could impact cash flow, though Tesla indicated it had "sufficient" cash flow. Kallo tells investors in a research note that he is lowering estimates to reflect lower-than-expected deliveries and margins, and now sees Q1 revenue of $4.8B, gross margin of 17.3% and adjusted EPS of (69c), with 2019 revenue of $25.4B, gross margin of 20.1% and adjusted EPS of $3.67.

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FE

FirstEnergy

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  • 24

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TSLA

Tesla

$273.25

2.13 (0.79%)

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EXPO

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PFE

Pfizer

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LBRT

Liberty Oilfield Services

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CHKP

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UNP

Union Pacific

$176.70

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TSLA

Tesla

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2.13 (0.79%)

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SCHW

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OSW

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SHLD

Sears

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