The Blue Owl
Endangerous Herbivore
Institutional ownership of TSLA went back down to 61% a few days ago (from 63%), according to Google Finance.
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It is technically a downgrade from buy to neutral on the same PT.
I was going to say the stock closed at $240 on March 18th. How could you have a buy rating when you think the stock will go down by 20% in 12 months?Today's StreetInsider.com article leads with: "Goldman Sachs maintained a Neutral rating on Tesla Motors".
I was going to say the stock closed at $240 on March 18th. How could you have a buy rating when you think the stock will go down by 20% in 12 months?
I see people cashing out on fear, whether misplaced or not.
New GS Note on TSLA is out. Neutral rating, PT $200.
The real things to note:
- TM expects MX to match MS in demand - surprise to GS (Duh)
- MX drivable prototype will be out in Q4
- As of April 8 the factory was running at 700 cars/week
http://www.streetinsider.com/Manage...+Goldman+Sachs+Citing+Management/9369354.html
you really think TSLA is not a momo stock? it went from $20 to $260 in TWO years... if that's not momentum, then i don't know. TSLA acted badly yesterday... didn't participate in the rally until the Fed minutes were released.
bryonsdad, while traders have definitely accentuated moves up and down on Tesla (i.e. $265 last month, $120 after the fires), I do think Tesla's move over the past few years is much more about fundamentals than traders and momentum. Think of Tesla like a biotech. Basically, between the fall 2012/spring of 2013 they went from substantial risk of going bust to having their first significant drug, the Model S approved by the FDA followed quickly by stellar write ups in the New England Journal of Medicine (i.e. Consumer Reports, Motor Trend...), leading to rapid strong uptake by physicians (sales to date far outpacing what Tesla was suggesting in 2012). In the 9 months since, they've entered the European market and they are on the cusp of entering China. They've also got this drug slated for approval in a second indication with an equally big market to the first indication in 6-9 months, that being the Model X on the Model S/X platform. Finally, they have a derivative compound, the Gen III platform, which is in Phase 3 testing, and has a far larger addressable market, roughly 10X, than the first drug they've passed. The company has shared very encouraging data on trials to date on this Gen III drug, and it has a very high probability of approval circa 2017.
Small biotechs riding completely on their first drugs approval can and do go up 2 or 3X on FDA approval. Expanding into the EU and Asia, is likely going to expand Tesla's revenues 3X. A biotech whose first and only drug gets approval in a second indication with an equally large market can double. Whey you look at the magnitude of these events, Tesla's 7X move from $30 to $210 is a value move, not "momo." Tesla's revenue growth from 2011 through today and what's projected the next 3 and 5 years also parallel a biotech winner.
while it's worth noting the "momo" tag given Tesla (and as I said there is a small aspect of the move for which this is accurate), and realizing Tesla is likely to go down more than average in a sharp selloff, ultimately, the move since 2012 has been based on fundamentals, and if there is such a selloff, Tesla's fundamental value will lead to a rebound in TSLA that will simply not be seen by any stocks it is currently being lumped in with whose recent gains were predominantly "momo" based.
Hi CurtToday's StreetInsider.com article leads with: "Goldman Sachs maintained a Neutral rating on Tesla Motors".
That's not how china works. They are not gonna let a foreign firm build a supercharge network without substantial domestic partnership. Tesla does not current enjoy Chinese subsidy. Speculation otherwise is just speculation. The Chinese want technology... So tesla may have to open a giga factory or even build cars there to get any concession. The charging logistics is a challenge. Most Chinese cities are packed tighter than Manhattan. U gonna run charging cables from apartment windows down to teslas? Lastly, china general manager just left without a reason, with less than a year on the job.
While SOME foreign demand has been strong (witness tiny Norway), other foreign demand has been tepid. Too early to say on China, but Elon made a big deal about Germany. They built out a significant Supercharger network IN FRONT of demand in Germany, and so far, their German sales have been disappointing.