Tesla Motors Upgraded to “Buy” by Stifel Nicolaus (TSLA)
Tesla Motors (NASDAQ:TSLA) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $400.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 40.82% from the company’s current price.
Shares of Tesla Motors (NASDAQ:TSLA) traded up 5.35% during mid-day trading on Tuesday, hitting $284.12. The stock had a trading volume of 9,797,984 shares. Tesla Motors has a 52 week low of $116.10 and a 52 week high of $272.00. The stock has a 50-day moving average of $241.5 and a 200-day moving average of $222.6. The company’s market cap is $35.410 billion. Tesla Motors also was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 22,555,047 shares, a decline of 6.5% from the July 31st total of 24,128,803 shares. Currently, 24.8% of the shares of the company are sold short. Based on an average daily volume of 6,774,265 shares, the short-interest ratio is presently 3.3 days.
Tesla Motors (NASDAQ:TSLA) last released its earnings data 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 $1.07 earnings per share for the current fiscal year.
TSLA has been the subject of a number of other recent research reports. Analysts at Credit Agricole initiated coverage on shares of Tesla Motors in a research note on Wednesday, August 20th. They set an “outperform” rating and a $300.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Tesla Motors in a research note on Wednesday, August 13th. They set an “outperform” rating and a $324.93 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Tesla Motors from a “hold” rating to a “buy” rating in a research note on Monday, August 11th. They now have a $310.00 price target on the stock, up previously from $220.00. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Tesla Motors currently has an average rating of “Buy” and an average price target of $255.82.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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