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Home / Business / Tesla Motors, Inc. (NASDAQ: TSLA) – Jefferies raises Tesla's target price to $ 400: "A Better Foundation"

Tesla Motors, Inc. (NASDAQ: TSLA) – Jefferies raises Tesla's target price to $ 400: "A Better Foundation"



Tesla Inc (NASDAQ: TSLA) shares rose on Monday after Jefferies raised the price target for the stock, along with a rise in EBIT and earnings per share, in anticipation of revenue and earnings growth next year ,

Phillippe Houchois maintained a buy rating for Tesla and raised the price target from $ 300 to $ 400.

The thesis

For the electric car maker, it may not be quite smooth in the short term, but the third quarter gross margin is "consistent with sustained profitability" and Tesla's average selling prices should stabilize, Houchois said in a Monday bulletin. (See his track record here.)

Jefferies raises its EBIT estimate for 2020 by 24% to $ 1

.16 billion and raises the EPS estimate for 2020 from $ 1.81 to $ 3.04.

"The stabilization in 2019 will create a better foundation for a return on sales and earnings in 2020," Houchois said. "We value the absence of legacy issues, net sales and revenue growth, and the continued technological lead from battery to autonomy."

Price Action

The Tesla share gained 3.34% to $ 348.39.

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Courtesy of Tesla.

Most Recent Reviews for TSLA

Date Company Action From To
November 2019 Maintenance Buy
October 2019 Maintenance 19659022 ] Equilibrium
Oct 2019 Downgrades Neutral Sell

View more Analyst Reviews for TSLA

Take a look at the latest analyst reviews

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