Tesla Motors: Buy on Weakness?
- By Ben Levisohn
Yes, says Global Equities Research’s Trip Chowdhry, who thinks Tesla’s 13% slide from its September high has created a buying opportunity. He explains:
Reiterating Overweight Rating and Price Target of $385 – Weakness a buying opportunity
We are comfortable with our FY2015 revenue estimates of $6.2 billion, and FY 2015 production estimates of 62K to 65K Auto Units
Product rationalization including – Model P85D and Model 85D will increase the Average Selling Price (ASP) by 2% to 5%
Shares of Tesla Motors have gained 0.8% to $249.69 at 10:27 a.m. today.