J.P. Morgan reiterated its Overweight rating on Tesla Motors (TSLA) yesterday giving the shares a bit of a boost. They have a one year price target of $30 (about 30% upside) and a three year target in the $40 – $50 range. They believe the majority of the investment community is underestimating the potential of the company with its power-train (used by Daimler and Toyota) and non power-train technologies.
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Shares Of Tesla Motors (TSLA) Punished As Insiders Begin Cashing Out
A few days ago I commented that TSLA was providing an excellent short setup after a big run. It didn’t take long for shares to hit my profit target as insiders began dumping shares once the lock up period expired Monday. After such a big run in a highly speculative company, I’d be selling too.
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The Street reports there are about 93 million shares of … Read the rest
Goldman Sachs Initiates Coverage Of ReneSola (SOL) With Buy, Capstone Initiates Coverage Of Tesla Motors (TSLA) With Sell
Two two green stocks are moving this morning on notable analyst calls.
Goldman Sachs initiated coverage on ReneSola (SOL) with a Buy and $11 price target which is about 30% higher from current levels. The firm likes the solid balance sheet and the valuation after a big correction. I’ve said that SOL and JASO have offered compelling entry points off their 200 day moving averages and still feel that way. Shares of SOL are up … Read the rest
JP Morgan, Goldman, Deutsche Initiate Coverage On Tesla (TSLA)
A few big firms are out with coverage on Tesla (TSLA) this morning. Hat tip to Street Insider for the analyst comment from Deutsche.
J.P. Morgan (JPM) initiated coverage on Tesla Motors (TSLA) with an Overweight rating and price target of $25.
Goldman Sachs (GS) initiated coverage with a Neutral rating and $21 price target.
Deutsche Bank initiated coverage with a Hold rating and $17 price target.
“We believe that Tesla’s deep technical talent, head-start … Read the rest
Tesla (TSLA) Reports Earnings – Losses Pile Up, Shares Down
Tesla Motors (TSLA) reported earnings for the first time since going public today and it didn’t get off to good start. While the company posted revenues that were about inline with what they reported in the same quarter a year ago and about 40% higher than last quarter, the losses continue to pile up. The EPS non GAAP loss of -.28/share is the worst in the past two years and may be the worst in … Read the rest
NYT On Tesla (TSLA) & Elon Musk: Hype & Arrogance Don’t Equal Success
The New York Times published a lengthy profile of Tesla Motors (TSLA) co-founder (should say disputed co-founder) Elon Musk on Sunday, highlighting the fact Mr. Musk is an excellent salesman and perhaps a bit too confident. Call it borderline arrogance. I suppose you don’t become a mega millionaire at a young age without at least a hint of those elements.
The article peels away the glitter and the glam and cuts to the core, which … Read the rest
Tesla (TSLA) IPO A Success: Increased Share Offering & Priced Above Expected Range
All the hype around Tesla Motors (TSLA) appears to have investors clamoring for a piece as the company increased the share offering by 20% and priced at $17/share which is higher than the expected range of $14 – 16, raising nearly $50 million more than expected. Elon Musk must be a very happy man this morning.
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Now that the IPO is behind them and a smashing … Read the rest
Tesla & Toyota (TM) To Develop EV Prototype By Year End, But Partnership Hinges On Tesla IPO
Kyodo News (via Street Insider) is reporting that Toyota and Tesla will co-develop a prototype electric car by year end and this is according to Toyota sources.
It was announced on May 21st that Toyota would invest $50 million in Tesla Motors and would partner to produce the Model S electric sedan at a recently closed Toyota/GM plant in Fremont, California. It’s not clear what the prototype will be, but I assume it will … Read the rest
Toyota (TM) Invests $50 Million In Tesla Motors To Produce Electric Sedan
Toyota Motors (TM) and Tesla Motors announced this morning that they are partnering to produce Tesla electric cars in a recently closed Toyota/GM plant in Fremont, California. The plant was closed just a few weeks ago, taking 4,700 jobs with it, but reviving the plant is good news at least for a portion of the workers. When production begins in 2012, about 1000 workers will be needed.
Tesla currently sells the Roadster, but the new … Read the rest
Ford, Nissan, Tesla Motors Get Billions In Govt Cash For Electric Vehicles
The Obama administration is announcing this morning that it’s providing billions to Ford, Nissan and Tesla Motors for the development of hybrid and electric vehicles. Ford will receive the bulk of the $8 billion allotted, which is the first chunk of loan commitments provided as part of the DOE’s Advanced Technology Vehicles Manufacturing program to further the advancement of fuel efficient vehicles in the US. Ford will use the cash to transform factories in Illinois, … Read the rest