Tesla: Wedbush initiates coverage with 'outperform'
(CercleFinance.com) - Wedbush Securities has initiated coverage on Tesla with an "outperform" rating and a target price of 440 dollars, citing "one of the most dynamic technology innovators over the last 30 years.
"
Comparing the U.S. electric car maker to companies that have revolutionized consumer buying habits - such as Apple and Amazon - the broker notes that Tesla has the "most impressive product roadmap" around on the auto market.
"We believe Tesla has a golden opportunity to ramp Model 3 unit sales in 2019 and beyond and thus translate into massive free-cash-flow and profitability," it wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"
Comparing the U.S. electric car maker to companies that have revolutionized consumer buying habits - such as Apple and Amazon - the broker notes that Tesla has the "most impressive product roadmap" around on the auto market.
"We believe Tesla has a golden opportunity to ramp Model 3 unit sales in 2019 and beyond and thus translate into massive free-cash-flow and profitability," it wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.