JPMorgan Chase & Co. Increases Tesla Motors Price Target to $170.00 (TSLA)
Investment analysts at JPMorgan Chase & Co. raised their target price on shares of Tesla Motors (NASDAQ:TSLA) from $163.00 to $170.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential downside of 27.12% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated a “buy” rating on shares of Tesla Motors in a research note on Wednesday. Separately, analysts at Zacks downgraded shares of Tesla Motors from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 2nd. They now have a $218.00 price target on the stock. Finally, analysts at Robert W. Baird reiterated a “positive” rating on shares of Tesla Motors in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $215.73.
Tesla Motors (NASDAQ:TSLA) traded up 4.46% on Friday, hitting $233.27. 11,895,932 shares of the company’s stock traded hands. Tesla Motors has a 52 week low of $116.10 and a 52 week high of $265.00. The stock’s 50-day moving average is $225.2 and its 200-day moving average is $210.8. The company’s market cap is $28.946 billion.
Tesla Motors (NASDAQ:TSLA) last announced its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.07. The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $810.57 million. During the same quarter last year, the company posted $0.05 earnings per share. Tesla Motors’s revenue was up 55.3% compared to the same quarter last year. On average, analysts predict that Tesla Motors will post $1.12 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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