Tesla Motors’s Neutral Rating Reaffirmed at Wedbush (TSLA)
Tesla Motors (NASDAQ:TSLA)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a report released on Thursday, AnalystRatingsNetwork.com reports.
The analysts wrote, “The lithium battery fire yesterday of a Tesla Model S, which was apparently caused by road debris, underlines safety issue for electric vehicles that are of similar importance to the hazards of gas tank ignition in crashes of conventional ICE vehicles. Reports have confirmed a Model S fire yesterday near Kent, Washington that included ignition of the lithium battery pack. The owner of the vehicle indicated to emergency responders that he had stuck road debris in the HOV lane. When his vehicle started to operate abnormally, the onboard systems indicated he should pull over safely, and he pulled off at the nearest exit before the fire developed. While car fires are typically not newsworthy, we expect this incident to gain heightened scrutiny as NHTSA and other agencies look to understand how the safety of EVs can be ensured.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Tesla Motors (NASDAQ:TSLA) in a research note to investors on Thursday. They now have a $200.00 price target on the stock. Separately, analysts at Robert W. Baird downgraded shares of Tesla Motors (NASDAQ:TSLA) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $187.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Bank of America Corp. reiterated an “underperform” rating on shares of Tesla Motors (NASDAQ:TSLA) in a research note to investors on Monday, September 23rd. They now have a $45.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $147.09.
Shares of Tesla Motors (NASDAQ:TSLA) traded down 5.32% during mid-day trading on Thursday, hitting $171.33. 10,538,747 shares of the company’s stock traded hands. Tesla Motors has a 52-week low of $26.86 and a 52-week high of $194.50. The stock’s 50-day moving average is $167. and its 200-day moving average is $108.0. The company’s market cap is $20.808 billion. Tesla Motors also was the recipient of unusually large options trading activity on Wednesday. Traders bought 123,991 call options on the stock. This is an increase of 193% compared to the typical volume of 42,332 call options.
Tesla Motors (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.89) earnings per share. The company’s revenue for the quarter was up 1417.2% on a year-over-year basis. On average, analysts predict that Tesla Motors will post $0.61 earnings per share for the current fiscal year.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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