Weekly Investment Analysts’ Ratings Changes for Tesla Motors (TSLA)

A number of stock research firms have changed their ratings and price targets for Tesla Motors (NASDAQ: TSLA) during the last seven days:

• Tesla Motors had its price target raised by analysts at Deutsche Bank from $28.00 to $35.00. They now have a “hold” rating on the stock.
• Tesla Motors was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating. They now have a $30.00 price target on the stock. They wrote, “Due to the recent run-up in TSLA’s stock price, the shares are now trading well above what we estimate as fair value. In fact, TSLA’s 2/20 closing price of $38.54 implies a 2014e EV/EBITDA multiple of ~13.8X and an EV/Sales multiple of ~1.7X our forecasts, both of which appear excessive. As a result, we are lowering our rating on TSLA shares from Neutral to Underperform, while maintaining our $30 PO, based on a 2014E EV/EBITDA mult. of ~10.4X and an EV/Sales mult. of ~1.4X. We note that following a softer than expected 4Q12, we are also lowering our 2013e EPS from $0.30 to $0.10, but maintaining our 2014e of $1.80.”
• Tesla Motors had its “buy” rating reaffirmed by analysts at Jefferies Group.
• Tesla Motors had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $45.00 price target on the stock.
• Tesla Motors was upgraded by analysts at TheStreet from a “sell” rating to a “hold” rating. They wrote, “Tesla Motors (TSLA) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins.”

Shares of Tesla Motors traded up 1.95% during mid-day trading on Wednesday, hitting $35.10. Tesla Motors has a 52 week low of $25.52 and a 52 week high of $40.00. The stock’s 50-day moving average is currently $36.47. The company’s market cap is $3.993 billion.

Tesla Motors, Inc. is an electric vehicles and components manufacturer. The Company manufactures electric vehicles and electric vehicle powertrain components.