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Fly News Breaks for June 14, 2019
Jun 14, 2019 | 06:53 EDT
Berenberg analyst Alexander Haissl said he maintains a bullish view on Tesla and sees "no reason to walk away from our price target of $500," telling investors that he believes demand worries are overblown and that store closures and changing pricing are not indicative of underlying demand. Increased competition from traditional automakers is often pointed to by bears, he noted, but Haissl sees them actually providing two levels of support for Tesla. First is their purchase of regulatory credits and second comes from their increased marketing of EVs, which he sees being beneficial for Tesla given its continued technological and value leadership. Haissl maintains a Buy rating on Tesla shares.
News For TSLA From the Last 2 Days
Jul 17, 2019 | 08:18 EDT
Morgan Stanley analyst Adam Jonas said feedback gathered by his firm's team from local Chinese suppliers indicates that Tesla may be able to ramp production there faster than he had anticipated. The construction of Gigafactory 3 in Shanghai "tracks perfectly on schedule as to last week" and looks set to be ready by the end of September for complete production to start from November, the feedback indicated, according to Jonas. While he anticipates significant pent-up demand for Tesla's locally produced vehicles in China, Jonas expects China to account for less than 200,000 units of Tesla deliveries annually by 2022, he noted. He keeps an Equal Weight rating and $230 price target on Tesla shares.
Jul 17, 2019 | 05:53 EDT
Baird analyst Ben Kallo continues to like the Tesla share setup for the balance of the year, despite the recent move higher. The company's further execution, beginning with the Q2 earnings report, will "help restore credibility and create a challenging short environment," Kallo tells investors in a research note titled "Q2 the Next Step in Restoring Bull Thesis." The analyst keeps an Outperform rating on Tesla with a $355 price target. The stock closed Tuesday down $1.12 to $252.38. While bear arguments have shifted to margins following the Q2 delivery release, expectations for Tesla "have become overly negative," says Kallo. As such, he believes the company's margin results could exceed estimates. Further, Tesla's cash balance at the end of the quarter could be $4.5B-plus, which would be viewed favorably, adds the analyst.
Jul 16, 2019 | 16:32 EDT
The major averages were mixed and searching for direction for much of the morning, though stocks picked up some downward momentum after President Trump told reporters at the White House, according to CNBC, that a trade deal with China has "a long way to go. " The president... To see the rest of the story go to See Story Here
Jul 16, 2019 | 06:17 EDT
Tesla has dropped the cheapest variants of its Model X and Model S from its product lineup and adjusted prices across its range, Reuters' Yilei Sun and Norihiko Shirouzu report. The automaker is limiting variants of its Model X sport-utility vehicle and Model S sedan to "Long Range" and the more expensive "Performance." The company is also raising the starting prices of the Model X to $84,990 and of the Model S to $79,990. Reference Link
Jul 15, 2019 | 08:55 EDT
Friday's total option volume of 18.9 million contracts resulted in net open interest growth of 2.79 million calls and 3.17 million puts. Micron (MU), Tesla (TSLA), Alibaba (BABA) and Facebook (FB) saw the greatest growth. Top five new positions opened include 22k Southwestern Energy (SWN) Aug-19 2.5 puts, 20k Tesla (TSLA) Jul-19 100 puts, 20k Facebook (FB) Jul-19 210 calls, 20k PG&E (PCG) Sep-19 25 calls and 19k Micron (MU) 7/26 weekly 46 calls.