- Tesla Motors (NASDAQ:TSLA) is holding onto gains in early trading action after setting delivery guidance high and striking a confident tone that it will have a profitable year (non-GAAP adjusted).
- Bold talk from the EV automaker is nothing new, but a plan to invest in future growth without utilizing outside capital sources is calming some fears.
- During the earnings call, CEO Elon Musk admitted some mistakes in aiming too high with the Model X on features and technologies which could have been rolled out over time.
- "So I do think that there was some hubris there with the Model X, " stated Musk.
- Investment firms: RBC Capital lowers its price target on TSLA to $180. Credit Suisse moves to a $240 PT, but warns of a "choppy" path. UBS maintains a Sell rating, due to concerns over cash flow guidance.
- Tesla earnings call transcript
- Previously: Tesla Motors aims high with 2016 guidance (Feb. 10 2016)
- TSLA +3.86% premarket to $149.22 amid broad market losses.