Tesla Motors Inc (NASDAQ:TSLA) reiterated at Buy – Jefferies

Jefferies reiterates Buy rating, $360 target on Tesla Motors Inc (NASDAQ:TSLA). After spending two days with Tesla VP of Global Investor Relations Jeff Evanson, Jefferies analyst Dan Dolev reiterates a Buy rating on the stock with a $360 price target. China is showing signs of improvement following a new strategy, and success in Germany shows Tesla could perform well even without subsidies, Dolev tells investors in a research note. He continues to believe concerns over the electric car maker’s cash flow are overblown. :theflyonthewall.com

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Tesla Motors Inc (NASDAQ:TSLA) stock is currently trading 8.49% below its 52-week-high, 47.01% above its 52-week-low. The 1-year stock price history is in the range of $181.4 – $291.42. Tesla Motors Inc (TSLA) has a price to book ratio of 40.25 versus Consumer Goods sector average of -1.12. TSLA stock price has outperformed the Nasdaq by 11.2%. The Auto-Cars & Light Trucks company is currently valued at $33.71 billion and its share price closed the last trading session at $266.68. The stock has a 50-day moving average of $259.51 and a 200-day moving average of $223.85.

Tesla Motors Inc (TSLA) current short interest stands at 24.49 million shares. It has decreased by 2% from the same period of last month. Around 26% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.34 million shares, the number of days required to cover the short positions stand at 7.4 days.

The company is expected to announce next quarter earnings on July 30, at consensus estimate of $-1.39. Tesla Motors Inc (TSLA) reported last quarter earnings on May 06. The Auto-Cars & Light Trucks company announced earnings per share of $-0.7 against a consensus Street estimate of $-0.81, beating the average estimate by $0.11. This corresponds to a decrease of $0.65 compared to the same quarter of the previous fiscal year.

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There are currently twenty-one analysts that cover Tesla Motors Inc stock. Of those twenty-one, ten have a Buy rating, eight have a Hold rating and three have a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $280.33.

A recent analyst activity consisted of Pacific Crest downgrading their Overweight rating to on July 8. On the date of report, the stock closed at $254.96.

Deutsche Bank downgraded their Buy rating to Hold on July 7, and increased their price target on TSLA stock from $245 to $280. This corresponds to a 4.99% upside from the last closing price. On the date of report, the stock closed at $267.88.

Another research firm was Bank of America who reiterated their stance on July 2. Bank of America increased their price target on Tesla Motors Inc from $65 to $180. This translates to a 32.5% downside from the last closing price. On the date of report, the stock closed at $280.02.

Company profile

Tesla Motors, Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. The Company owns its sales and service network and sells electric powertrain components to other automobile manufacturers.

Tesla Motors Inc (NASDAQ:TSLA) reiterated at Buy – Jefferies was last modified: July 17th, 2015 by Donna Crepeau