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Tesla Stock Price Rises on Improved Outlook from Deutsche Bank

By  +Follow September 19, 2013 11:52AM
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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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Results for TSLA
Christie
31 Oct 14 19:17:58
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ⓢ
31 Oct 14 18:53:38
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Edward Gofsky
31 Oct 14 18:42:03
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Sufiy
31 Oct 14 17:55:18
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Sufiy
31 Oct 14 17:55:08
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Sufiy
31 Oct 14 17:55:06
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Sufiy
31 Oct 14 17:55:03
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Sufiy
31 Oct 14 17:54:59
RT @ILCtsxv: Accelerating Electric Vehicle Adoption. #EVs http://t.co/RNBp6bpbKU $ILC.v $TSLA $LIT $FMC $SQM
Maleah
31 Oct 14 17:11:34
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Carolyn B Miciano
31 Oct 14 16:55:20
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Carolyn B Miciano
31 Oct 14 16:45:39
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MarketStream.TV
31 Oct 14 16:25:26
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31 Oct 14 16:15:45
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msputoptions
31 Oct 14 16:00:06
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A
31 Oct 14 15:59:27
Looking for re-ntry into $aapl calls for next week. Also watching $gpro $nflx $tsla $Scty
Wincrease Team
31 Oct 14 15:39:00
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31 Oct 14 15:26:00
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Kirill Klip
31 Oct 14 15:24:20
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Kirill Klip
31 Oct 14 15:24:14
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Kirill Klip
31 Oct 14 15:24:11
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Kirill Klip
31 Oct 14 15:24:05
RT @ILCtsxv: Accelerating Electric Vehicle Adoption. #EVs http://t.co/RNBp6bpbKU $ILC.v $TSLA $LIT $FMC $SQM
Carolyn B Miciano
31 Oct 14 14:52:01
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kenr0966
31 Oct 14 14:34:47
RT @ACInvestorBlog: $TSLA Daily short sale volume over the last month http://t.co/7IXlwH6IJr
Antonio Costa
31 Oct 14 14:33:33
$TSLA Daily short sale volume over the last month http://t.co/7IXlwH6IJr
Dan
31 Oct 14 14:32:50
$tsla giving away cars for Halloween http://t.co/lDJcc9FpCe
A
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Selling_Options
31 Oct 14 14:09:03
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4-traders.com
31 Oct 14 13:55:08
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Arnau Casals Bastús
31 Oct 14 13:43:41
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Nerd Criollo
31 Oct 14 13:38:22
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jim50
31 Oct 14 13:34:31
$KO Tick Click Here: http://t.co/a7L3bMkoyf Also See: $QCOM $TSLA $FLY.V $TUBE ~
ClosingBell
31 Oct 14 13:33:34
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John Docherty
31 Oct 14 13:25:15
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31 Oct 14 13:20:40
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Wincrease Team
31 Oct 14 13:12:41
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Dave Silsby
31 Oct 14 13:02:52
$TSLA Buy signal confirmed. http://t.co/xBqsHkLc1Q
Evnt Trader
31 Oct 14 13:00:16
$TSLA Chips in Model S NVIDIA $NVDA, Freescale $FSL, Texas Instruments $TXN, Qualcomm $QCOM, STMicroelectronics $STM and Altera $ALTR
Jen Wieczner
31 Oct 14 12:58:56
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InternationalLithium
31 Oct 14 12:53:03
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InternationalLithium
31 Oct 14 12:52:34
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InternationalLithium
31 Oct 14 12:52:17
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31 Oct 14 12:51:58
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31 Oct 14 12:50:52
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Big Money
31 Oct 14 12:50:17
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luckypete
31 Oct 14 12:38:59
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Future Tech Investor
31 Oct 14 12:38:10
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Momentum Stocks
31 Oct 14 12:34:40
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31 Oct 14 12:34:13
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Financial Buzz
31 Oct 14 12:29:49
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By  +Follow September 19, 2013 11:52AM
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