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TSLA

Tesla

$227.01

-12.71 (-5.30%)

08:32
05/14/19
05/14
08:32
05/14/19
08:32

Tesla share weakness not just based on Chinese tariffs, says Barclays

While some press accounts blame the latest round of Chinese tariffs as the reason for Tesla's 5% selloff yesterday, the weakness is also due to a growing realization among institutional investors that the company is "not poised to grow into a large profitable automaker," Barclays analyst Brian Johnson tells investors in a research note titled "Don't blame just Beijing for share weakness." China has not raised tariffs yet on inbound U.S.-made autos, the analyst points out. While the market may be pricing in some future risk of auto tariffs in the coming days, the major exporters to China are Daimler, BMW and Tesla, "not the Big 3," Johnson writes. This makes auto tariffs less of a negotiating tool with the Trump administration, he contends. Johnson reiterates an Underweight rating on Tesla with a $192 price target.

  • 11

    Jun

TSLA Tesla
$227.01

-12.71 (-5.30%)

05/06/19
BARD
05/06/19
NO CHANGE
Target $400
BARD
Outperform
Tesla capital raise should refute lingering bear argument, says Baird
Baird analyst Ben Kallo said Tesla's equity and convertible notes offering was not necessarily needed, but "a prudent move" to boost the balance sheet and remove an overhang after liquidity was discussed on the Q1 earnings call. He also thinks the fundraising should refute lingering bear arguments that Tesla could not access capital markets due to a potential Wells Notice or a perceived reluctance by banks. Kallo, who thinks consensus expectations may be overly negative on the second half of 2019, has an Outperform rating and $400 price target on Tesla shares.
05/06/19
RBCM
05/06/19
NO CHANGE
Target $190
RBCM
Underperform
Tesla price target lowered to $190 from $200 at RBC Capital
RBC Capital analyst Joseph Spak lowered his price target on Tesla to $190, updating his model to include $1.6B in convertible debt issued for 2024 and noting that the capital raise could have been conducted from a "greater position of strength." Spak also kept his Underperform rating, forecasting free cash flow burn through 2021 while noting Tesla's sequential volume declines for ModelS/X/3 reported in Q1. The analyst further notes that Tesla's "narrative pivot" toward robo-taxis is premature and will also consume capital.
05/06/19
BOFA
05/06/19
INITIATION
Target $225
BOFA
Underperform
Tesla resumed with an Underperform at BofA/Merrill
BofA/Merrill analyst John Murphy resumed coverage on Tesla with an Underperform and $225 price target.
05/07/19
LEHM
05/07/19
NO CHANGE
Target $192
LEHM
Underweight
Tesla share momentum may continue as bankruptcy concerns recede, says Barclays
Between last week's capital raise and cash infusions of potentially over 1B euros from regulatory credit sales, Tesla's cash balance is "comfortably replenished for the next year or so," Barclays analyst Brian Johnson tells investors in a research note. As such, the analyst says he would not be surprised to see continued positive momentum in the shares as bankruptcy concerns recede. However, he believes the appeal of Tesla shares to growth investors may fade and reiterates an Underweight rating on Tesla with a $192 price target. The stock closed yesterday up 31c to $255.34. Some of the "rational bulls" of Tesla may need to reassess the idea that the company will become a profitable auto market, as press accounts of the conference call on May 2 around the capital raise indicate that Elon Musk "sold" the deal based on the promise of autonomous robo-taxis by 2020, says Johnson. As a result, he believes Tesla appears to be pivoting from improving auto margins and profitability to going all-in on autonomy.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,132.99

-7.56 (-0.66%)

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$1,138.90

-5.98 (-0.52%)

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AMBA

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ON

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ADDYY

Adidas

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UAA

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UA

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FLR

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ACM

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X

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AKS

AK Steel

$2.00

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NUE

Nucor

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DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

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$12.85

0.11 (0.86%)

F

Ford

$9.83

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GM

General Motors

$35.13

0.01 (0.03%)

HMC

Honda

$25.45

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NSANY

Nissan

$0.00

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TM

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$118.54

1.16 (0.99%)

VWAGY

Volkswagen

$0.00

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UBER

Uber

$41.40

0.94 (2.32%)

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  • 30

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APTO

Aptose Biosciences

$2.01

0.03 (1.52%)

17:46
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  • 04

    Jun

TRNX

Taronis Technologies

$0.48

0.004 (0.84%)

17:26
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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:25
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AAPL

Apple

$179.03

-0.64 (-0.36%)

17:22
05/24/19
05/24
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Apple sued over allegedly selling users' iTunes data, Bloomberg says »

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  • 03

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SPCB

SuperCom

$1.17

-0.005 (-0.43%)

17:21
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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:20
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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:18
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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:17
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NVS

Novartis

$87.49

3.03 (3.59%)

, QGEN

Qiagen

$38.22

-0.255 (-0.66%)

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QGEN

Qiagen

$38.22

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AVH

Avianca

$3.96

0.91 (29.84%)

16:56
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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
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  • 03

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SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

16:52
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  • 13

    Jun

CREG

China Recycling Energy

$0.48

0.005 (1.05%)

16:41
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FENC

Fennec

$3.88

(0.00%)

16:36
05/24/19
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TD

Toronto-Dominion

$56.66

0.65 (1.16%)

16:35
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16:30
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CBUS

Cibus

$0.00

(0.00%)

16:25
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BA

Boeing

$355.14

4.57 (1.30%)

16:23
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FB

Facebook

$181.03

0.14 (0.08%)

, BA

Boeing

$355.14

4.57 (1.30%)

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FB

Facebook

$181.03

0.14 (0.08%)

BA

Boeing

$355.14

4.57 (1.30%)

UAL

United Continental

$80.77

-0.14 (-0.17%)

SMI

SMIC

$5.23

-0.26 (-4.74%)

HPQ

HP Inc.

$20.03

0.835 (4.35%)

HPE

HP Enterprise

$14.36

0.03 (0.21%)

NVS

Novartis

$87.49

3.03 (3.59%)

CNC

Centene

$56.84

1.39 (2.51%)

WCG

WellCare

$275.45

0.99 (0.36%)

TSS

TSYS

$113.42

13.81 (13.86%)

GPN

Global Payments

$153.42

5.45 (3.68%)

HIBB

Hibbett Sports

$23.91

4.07 (20.51%)

DVAX

Dynavax

$5.77

-0.59 (-9.28%)

FL

Foot Locker

$44.39

-8.455 (-16.00%)

SPLK

Splunk

$119.13

-9.55 (-7.42%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
05/24/19
05/24
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16:20
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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05/24
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05/24/19
16:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
05/24/19
05/24
16:16
05/24/19
16:16
Technical Analysis
NYSE market internals summary »

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RHE

Regional Health Properties

$2.06

0.09 (4.57%)

16:15
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Hot Stocks
Regional Health Properties receives NYSE notice over late Form 10-Q filing »

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