Tesla quietly making good progress on key initiatives, says Nomura Instinet
Tesla in recent weeks has made good progress on a few key initiatives "in a relatively quiet manner," Nomura Instinet analyst Christopher Eberle tells investors in a research note. These include multiple positive developments in China from a new tax credit and continued factory build out, the launch of an in-house insurance offering, and what appears to be an increasingly efficient fulfillment of the company's global order book, says the analyst. Eberle says this "low-controversy execution" is what he and many investors have hoped to see from Tesla for some time. He adds that if Tesla can continue to hit both operational and financial targets, he sees an opportunity to get more positive on the shares in the future. For now, though, Eberle keeps a Neutral rating on Tesla with a $270 price target.