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Nomura lays out China track for Tesla

Oct. 16, 2017 1:31 PM ETTesla, Inc. (TSLA) StockTCTZF, TCEHY, TSLABy: Clark Schultz, SA News Editor75 Comments
  • Nomura/Instinet backs its Buy rating on Tesla (TSLA -1.6%) and sticks with a high-flying price target of $500.
  • After talking with Chinese automobile industry insiders, the firm sets out a positive scenario in which Tesla partners with a local tech company (say Tencent (OTCPK:TCEHY, OTCPK:TCTZF)) on manufacturing in a free-trade zone and lands reduced import tariffs on batteries and other components needed for final assembly.
  • If Tesla sticks the China landing, Nomura says the long-term numbers will justify the $500 PT.

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