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.
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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.

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