- 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.