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Tesla Stock Price Rises on Improved Outlook from Deutsche Bank

By  +Follow September 19, 2013 11:52AM
Tickers Mentioned:

Tesla Motors (TSLA) saw a jump in its stock price after analysts at Deutsche Bank (DB) reiterated their buy rating and raised the price target from $160 to $200 a share. Shares were up 3.3 percent in premarket trading and had popped almost 8.25 percent by mid afternoon. The gains helped push Tesla’s stock price to a new high of $180.30 a share.

Deutsche Bank Optimistic about Tesla’s Prospects

Analysts at the German bank saw reason to believe in Tesla’s continued growth despite a price that already significantly outpaces its earnings.

“Based on conversations with management and monitoring information available on Tesla owners’ blogs, we believe that the company is on-track to modestly outperform Q3 margin expectations,” said Dan Galves, lead analyst for Tesla at Deutsche, while noting growing demand across the United States and Europe and increasing production rates at Tesla factories. "As Tesla continues to execute to margin targets and demonstrate strong demand for their product, confidence in the late-decade volume, margin, and earnings estimates that justify upside to the current valuation will likely grow."

Deutsche Bank weren’t the only ones with a rosy outlook for Tesla stock. Northland Securities said that vin numbers have increased to 7,000 since the start of the quarter and 6,000 deliveries or more are likely in Q3. Southland stated that this made Q3 pro-forma earnings estimates look conservative and boosted its own price target to $230 while reiterating its outperform rating.

Elon Musk Net Worth Keeps Growing

Tesla’s CEO, Elon Musk, has been in the news all year, between a high-profile conflict with the New York Times to his proposal to the state of California for the high-speed train known as the HyperLoop. Musk, who also co-founded PayPal (EBAY) owns a 32 percent stake in Tesla, and has seen shares in his company more than quadruple this year, gaining over 370 percent just since the start of April and putting estimates of his net worth north of $6.5 billion.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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19 Dec 14 20:45:00
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19 Dec 14 20:40:25
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19 Dec 14 20:34:35
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19 Dec 14 20:34:10
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$AAPL Stock Forum Updated Friday, December 19, 2014 11:11:23 PM $ERX $GLD $EA $TSLA http://t.co/TG27tAJ7hE
Bertel Schmitt
19 Dec 14 20:27:59
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News & Videos
19 Dec 14 20:20:54
$TSLA: CNBC: Tesla unveils battery swap station http://t.co/tK33sBj0Ib http://t.co/qKUKhQoCOX
19 Dec 14 20:18:37
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Keegan Wireless,LLC
19 Dec 14 20:12:23
RT @TSLASpeedreader: $TSLA #Tesla Tesla Motors Begins Pilot For 'Fast' Battery Pack Swap Option http://t.co/QY2M57Fcl6
Bodhi Thatcher
19 Dec 14 20:10:46
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Mark B. Spiegel
19 Dec 14 19:57:28
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19 Dec 14 19:55:58
$TSLA lower energy prices don't change the long term story here. The $TSLA threat, part of the solution, not the problem. Ditto with $SCTY
TSLA Speedreader
19 Dec 14 19:54:22
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19 Dec 14 19:44:32
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19 Dec 14 19:26:08
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19 Dec 14 19:19:39
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19 Dec 14 18:57:25
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19 Dec 14 18:54:21
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19 Dec 14 18:32:09
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19 Dec 14 18:32:04
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Alvaro Salazar
19 Dec 14 18:30:16
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19 Dec 14 18:03:16
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19 Dec 14 17:47:37
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[ California News ]
19 Dec 14 17:31:48
RT @getinsidetesla: @teslamotors is launching its new battery-swapping technology next week for public t... https://t.co/28yEWUFGDi $tsla h…
Alekanekelo Jackson
19 Dec 14 17:14:41
$TSLA $TWTR $FB continued to add to these short positions since not participating in todays market bounce
Rosner Stocks
19 Dec 14 17:13:39
$MYEC Opinions Updated Friday, December 19, 2014 7:59:24 PM $TSLA $RAD $SAVE $IYR http://t.co/7m7g7SiLlt
[ Tesla News ]
19 Dec 14 17:11:32
@teslamotors is launching its new battery-swapping technology next week for public t... https://t.co/28yEWUFGDi $tsla http://t.co/zaFuRR45Qc
TSLA Speedreader
19 Dec 14 17:11:10
$TSLA #Tesla Biz Break: Tesla Motors to try out battery-swap station http://t.co/sqdZuWIGC9
Jeremy C. Owens
19 Dec 14 16:54:30
Tesla Motors will launch a test program for battery-swapping, but the technology is far from a sure thing. http://t.co/emxuwISS2S $TSLA
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19 Dec 14 16:45:06
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$VDSI Financials Updated Friday, December 19, 2014 7:03:24 PM $UNG $FCX $TSLA $XOP http://t.co/RR453CqTMC
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19 Dec 14 16:06:31
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19 Dec 14 16:04:52
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Jim Hernandez
19 Dec 14 15:54:37
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19 Dec 14 15:41:03
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19 Dec 14 15:39:50
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Bidness Etc
19 Dec 14 15:32:25
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19 Dec 14 15:17:32
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19 Dec 14 14:50:13
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Bidness Etc
19 Dec 14 14:44:45
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19 Dec 14 14:44:26
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Curtis Hayes
19 Dec 14 14:39:27
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Bidness Etc
19 Dec 14 14:39:22
Bidness Etc takes a look at Tesla’s stock performance http://t.co/QZ9hqmEm5N $TSLA http://t.co/pv5OmVQsqX
Irma Doucet
19 Dec 14 14:32:36
$TSLA Tesla Motors Inc Isn't the Only One Looking to Power the Electric Vehicle Future http://t.co/DzU0M4xz3p
19 Dec 14 14:27:23
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19 Dec 14 14:21:20
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By  +Follow September 19, 2013 11:52AM



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