Tue, Aug. 25, 7:34 AM| Tue, Aug. 25, 7:34 AM | 16 Comments
Mon, Aug. 24, 9:45 AM
- Automaker stocks are one of the hardest hit sectors in early trading.
- Concerns over demand in China and ambitious capacity growth in the automobile industry have been raised to a new level.
- Notable decliners include General Motors (GM -5.4%), Ford (F -5.6%), Toyota (TM -6%), Honda (HMC -5.9%), and Tesla Motors (TSLA -6.1%).
Mon, Aug. 17, 9:58 AM
- Morgan Stanley's note on Tesla Motors (TSLA +3.8%) is short on delivery and earnings projections, but full of confidence over the capability of the company to leverage its leadership in autonomous technology and networked machine learnings over the long haul.
- The investment firm thinks Tesla will disclose a business plan in the next 12 to 18 months on how Tesla Mobility 1.0 (shared mobility) will be integrated into the Model 3.
- Over a million shares of Tesla have swapped hands in the first 20 minutes of trading with the MS note in the forefront.
- Previously: Tesla Motors higher after massive Morgan Stanley PT boost (Aug. 17 2015)
Mon, Aug. 17, 9:15 AM
Mon, Aug. 17, 7:16 AM
- Tesla Motors (NASDAQ:TSLA) is higher in early trading after receiving a large price target boost from Morgan Stanley.
- The investment firm pushes in with a PT hike to $465 from $280 to mark a new Street high from a major name.
- Tesla's expertise in autonomous technology and its ability to work out manufacturing inefficiencies set it up for share gains, reasons MS.
- TSLA +4.96% premarket to $255.20.
Thu, Aug. 13, 10:18 AM
- Tesla Motors (NASDAQ:TSLA) is poised to announce a partnership with two dozen garages in Manhattan later today, tips the The New York Times.
- The initiative is aimed at making it easier for New Yorkers to own and charge Tesla EVs.
- The charging capacity at the NYC garages will add 58 miles of range per hour, faster than a home charging set-up - but slower than the highway superchargers.
- Shares of Tesla are up 2.42% to $243.93 after the company announced a well-anticipated secondary offering of $500M-$575M worth of shares.
- Previously: Tesla Motors sets $500M stock offering
Thu, Aug. 13, 7:16 AM
- Tesla Motors (NASDAQ:TSLA) announces a $500M stock offering. The company will also grant underwriters a 30-day option to buy an extra $75M.
- CEO Elon Musk says he will purchase $20M worth of Tesla stock himself.
- The company plans to use the funds to accelerate growth.
- TSLA +2.03% premarket to $243.01.
Thu, Aug. 6, 9:15 AM
Tue, Jul. 21, 7:29 AM
- Tesla Motors (NASDAQ:TSLA) is clipped in early trading from by an UBS downgrade on the company to a Sell rating.
- The investment firm warns Tesla's current market valuation implies storage and auto volume growth targets that may be out of reach.
- UBS trims its price target to $210 from $220.
- TSLA -4.03% premarket to $270.88 after a brisk three-day rally pushed shares over $282.
Fri, Jul. 10, 5:14 AM
- Tesla (NASDAQ:TSLA) has hired ex-Burberry senior vice president Ganesh Srivats to lead North American sales, adding an executive to help extend its reputation for automotive luxury.
- Srivats will help Tesla deepen its already formidable brand into a premium lifestyle experience to go with its high-tech image, taking a cue from the kind of marketing BMW, Porsche and Ferrari have done.
- TSLA +2% premarket
Wed, Jul. 8, 10:37 AM
- Tesla (TSLA -5%) bulls are getting a gift as two recent downgrades have helped knock the stock price back nearly 10%, says Baird analyst Ben Kallo, reiterating his Outperform rating and $335 price target.
- The downgrades, he says, do not fully value the lower-priced Model X launch.
- Previously: Another downgrade for Tesla; stock slips 2% (July 8)
- Previously: Tesla cut to Hold from Buy at Deutsche Bank (July 7)
Wed, Jul. 8, 7:37 AM
- Tesla (NASDAQ:TSLA) gives back a bit more of its recent big run, as Pac Crest's Brad Erickson says the valuation is getting full and downgrades to Sector Weight.
- He sees fair value for the stock at $293, or just 8% above yesterday's close, meaning a more balanced risk/reward scenario.
- Shares -2% to $262.44 premarket.
Tue, Jul. 7, 8:47 AM
- Tesla (NASDAQ:TSLA) -1.6% premarket after Deutsche Bank downgrades shares to Hold from Buy, citing valuation and an "insufficient" risk/reward at current levels.
- The firm thinks the electric vehicle market should increase dramatically from current levels, and TSLA could become the dominant player in the space, but the company's opportunity looks priced into the stock at current levels.
- Despite the downgrade, the firm raises its 2020 EPS to $22.20 from $20 and raises its stock price target to $280 from $245.
Thu, Jul. 2, 7:47 AM
- Tesla (NASDAQ:TSLA) +2.8% premarket after saying it delivered 11,507 Model S sedans in Q2, a 52% Y/Y and 15% Q/Q increase as well as a company record.
- But the company will need an uptick of growth in H2 if it is to meet CEO Elon Musk's ambitious sales goal of 55K deliveries for the full year.
- TSLA does not release monthly sales; its practice of releasing quarterly sales started last quarter because it believed "inaccurate sources of information are sometimes used by others to project the number of vehicle deliveries."
Wed, Jun. 17, 11:30 AM
- Baron Capital founder Ron Baron sees a $120B valuation on Tesla Motors (TSLA +2.9%) in five years.
- That mark compares to Tesla's current valuation of $33B and Ford's market cap of $59.5B.
- Baron is a long-time Tesla supporter and was an initial buyer of Tesla shares in the $30s.
- In the firm's last quarterly report, Baron forecast that Tesla would not be able to meet demand for Generation 3 cars for years to come.
- Shares of Tesla topped $260 for the first time this year today.
- CNBC interview with Ron Baron
Wed, May 6, 5:43 PM
- Tesla (NASDAQ:TSLA) produced 11,160 vehicles in Q1, down slightly from Q4's 11,627 but beating guidance of 10K. 10,045 vehicles were delivered, close to the 10,030 previously announced and up from Q4's 9,834.
- The company expects to deliver 10K-11K vehicles in Q2, below estimates of ~12K. But it still forecasts 55K 2015 Model S and X deliveries. Q2 production is expected to total 12.5K. The Model X is on track to see deliveries start in late Q3.
- Model S average transaction price is expected to drop Q/Q in Q2 thanks to a weak euro (a 100+ bps gross margin impact is expected). Tesla has responded by hiking European prices by ~5%. Operating expenses are expected to rise 10% Q/Q in Q2, and 45%-50% Y/Y in 2015. The 2015 capex budget is still at $1.5B.
- Financials: Q1 gross margin (non-GAAP) was 28.2%, up from Q4's 26.7% and Q1 2014's 25.2% in spite of a strong dollar, and contributing to the EPS beat. Auto gross margin (exc. ZEV credits) was 26%, and services/other gross margin -3.2%; Tesla expects the latter to be slightly above breakeven in Q2. R&D spend +117% Y/Y to $147.4M; SG&A spend +82% to $147.4M. The company ended Q1 with $1.51B in cash, down $396M Q/Q thanks to $426M in capex.
- Other details: 1) Order rates are said to have "accelerated even further" in Q2 thanks to greater availability of the Model S 85D and 70D. 2) Volume production for Tesla's home/commercial batteries is expected to start in Fremont, CA in Q3, and expand to the Gigafactory in Q1 2016. 3) To lower costs, Tesla is now shipping cars via rail rather than trucks in more regions, and "producing cars based on a uniform regional production mix."
- TSLA +1.7% AH to $234.26.
- Q1 results, shareholder letter (.pdf)
TSLA vs. ETF Alternatives
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