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Technology Stocks : Tesla EVs - TSLA
TSLA 345.10-1.9%Oct 20 8:10 PM EDTNews

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From: Sr K10/3/2017 6:17:03 PM
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6:03 PM

MarketWatch

Tesla stock gains after Nomura initiates with Street-high $500 price target


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Tesla started at Nomura with Street-high $500 price target
Oct. 3, 2017 6:22 PM ET| About: TSLA

Tesla (NASDAQ:TSLA) +0.9% after-hours after Nomura initiates coverage of the stock with a Buy rating and a Street-high $500 price target, vs. a consensus target of slightly more than $300.
  • Analyst Romit Shah forecasts "unprecedented" revenue gains for TSLA - $8B in 2016 to $58B in 2021 - and believes the company has "an insurmountable lead in vehicle range per dollar."
  • TSLA also benefits from a largely inferior competitive field which should drive growth at current levels and help it work through Model 3 production problems, Shah says, adding that he expects upwards of mid-to-high 20% gross margins by 2020.
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