Tesla Motors Inc (NASDAQ:TSLA) is now building the Gigafactory at the Tahoe Reno Industrial Center in Nevada. CEO Elon Musk purchased 82,645 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. Tesla owns its sales and service network.
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Adam Jonas has rated Tesla a total of 32 times since 2011, earning a 78% success rate recommending the company and a +41.7% average return per TSLA recommendation when measured over a one-year horizon and no benchmark. The average 12-month price target for on the company is $148.86, marking a 31.4% potential upside from where the stock last closed. The firm’s revenue for the quarter was up 39.6% compared to the same quarter past year. Analysts forecast that Tesla Motors will post ($0.87) earnings per share for the current fiscal year. Jefferies Group began coverage on Tesla Motors in a research report on Tuesday, May 5th. They issued a buy rating and a $350.00 target price on the stock. Morgan Stanley reissued an overweight rating and issued a $280.00 price objective on shares of Tesla Motors in a research note on Saturday, May 23rd. TheStreet upgraded shares of Tesla Motors from a sell rating to a hold rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus restated a buy rating and set a $400.00 target price on shares of Tesla Motors in a research report on Friday, May 15th.
Musk has reportedly said that Tesla is having issues with the Model X’s second-row seats, as well as assorted interior trim pieces. BJ (SHE:300104), pushes to roll out an electric vehicle that could effectively throttle Tesla’s reach into the Chinese market much sooner than expected. Tesla Motors has a consensus rating of Hold and a consensus target price of $288.28. The Company provides services for the development of electric powertrain components and sells electric powertrain components to other automotive manufacturers.
In charge of the project is an ex-Lotus employee Tony Nie who recently said the Model S fighter is being developed in-house and will use its own electric motor and battery technology rather than sourcing it from another automaker.
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With the factory, the electric auto maker will reduce production cost of its batteries and powerwall packs by around 30 percent. Companies such as General Motors and Ford Motors all collaborate with Chinese manufacturers.
