Tesla Motors Price Target Raised to $200.00 at Deutsche Bank (TSLA)
Investment analysts at Deutsche Bank upped their price target on shares of Tesla Motors (NASDAQ:TSLA) from $160.00 to $200.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective would indicate a potential upside of 20.32% from the stock’s previous close.
The analysts wrote, “Based on conversations with mgmt and monitoring information available on Tesla owners’ blogs, we believe that the company is on-track to modestly outperform Q3 margin expectations, that demand has continued to grow in the US and Europe (despite substantial option pricing increases in effect as of late July), and that the production rate at Tesla’s factory has continued to increase. We are raising our target price to $200 from $160, as well as fine-tuning 2014 / 2015 est’s higher (positive margin impact of recent option pricing increases), and maintaining our Buy recommendation based on valuation.”
Tesla Motors (NASDAQ:TSLA) opened at 166.218 on Wednesday. Tesla Motors has a 52 week low of $26.86 and a 52 week high of $173.70. The stock’s 50-day moving average is $155.4 and its 200-day moving average is $97.40. The company’s market cap is $20.187 billion.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.36. The company had revenue of $405.10 million for the quarter, compared to the consensus estimate of $393.40 million. During the same quarter last year, the company posted ($0.89) earnings per share. Tesla Motors’s revenue was up 1417.2% compared to the same quarter last year. Analysts expect that Tesla Motors will post $0.61 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Equities Research reiterated an “overweight” rating on shares of Tesla Motors (NASDAQ:TSLA) in a research note to investors on Monday. They now have a $225.00 price target on the stock, up previously from $150.00. Separately, analysts at TheStreet downgraded shares of Tesla Motors (NASDAQ:TSLA) from a “hold” rating to a “sell” rating in a research note to investors on Wednesday, September 11th. Finally, analysts at Dougherty & Co reiterated a “buy” rating on shares of Tesla Motors (NASDAQ:TSLA) in a research note to investors on Tuesday, September 10th. They now have a $200.00 price target on the stock.
Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Tesla Motors currently has a consensus rating of “Hold” and a consensus price target of $146.92.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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