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Fly News Breaks for May 19, 2017
May 19, 2017 | 08:22 EDT
UBS analyst Colin Langan remains bearish on Tesla (TSLA) following his teardown of a General Motors (GM) Chevy Bolt electric vehicle. Powertrain costs were lower than expected and with the help of falling battery costs, he sees more profitable economics for Tesla's Model 3. However, despite raising his gross margin assumptions and lowering his loss estimate for 2019, he believes Tesla's near-term challenges remain and his bearish thesis is intact. Langan reiterated his Sell rating, but raised his price target to $185 from $160, on Tesla shares.
News For TSLA;GM From the Last 2 Days
Nov 23, 2017 | 08:08 EDT
Tesla CEO Elon Musk tweeted, "Congratulations to the Tesla crew and South Australian authorities who worked so hard to get this manufactured and installed in record time!"
Nov 23, 2017 | 08:07 EDT
The South Australian government announced that Tesla has completed construction of the world's largest lithium ion battery. Tesla Powerpacks, connected to Neoen's Hornsdale windfarm, has now been fully installed on site, with the testing phase ensuring the battery is optimized and meets government requirements. "While others are just talking, we are delivering our energy plan, making South Australia more self-sufficient, and providing back up power and more affordable energy for South Australians this summer. The world's largest lithium ion battery will be an important part of our energy mix, and it sends the clearest message that South Australia will be a leader renewable energy with battery storage. An enormous amount of work has gone in to delivering this project in such a short time, and I look forward to visiting Jamestown next week to personally thank those who have worked on this project," state Premier Jay Weatherill said in a statement. Reference Link
Nov 22, 2017 | 06:43 EDT
Tesla's latest announcement of designing a sports car should take a back seat to investors' focus of the company's cash burn, says Bloomberg, estimating that at the current rate, Tesla would be out of cash by August 6th. Bloomberg Intelligence analyst Kevin Tynan estimates that the company may have to raise at least $2B in fresh capital by mid-2018. The report adds that the bond market route may not be welcoming, as Tesla investors who bought $1.8B in debt 3 months ago remain under water. Reference Link
Nov 21, 2017 | 07:48 EDT
Morgan Stanley analyst Adam Jonas said he expects Tesla shares to be extremely volatile in 2018. He assumes that Tesla's battery module production bottlenecks may be resolved in weeks, which could result in the stock price rising to $400 or more over the next few months, he tells investors. However, following a "hypothetical 1H18 pop," he could see longer-term risks in the story and more serious headwinds to come to the forefront of investors attention, Jonas adds. The analyst maintains an Equal Weight rating and $379 price target on Tesla shares, which closed yesterday at $308.74.
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