Mike Smith
Active Member
Roth Capital Upgrades Tesla (TSLA) to Buy
from 'TheFly':
'Tesla rating change Tesla upgraded to Buy on China demand at Roth Capital. As previously reported, Roth Capital analyst Craig Irwin upgraded Tesla to Buy from Neutral, with a $238 price target, after meetings with major Chinese EV producers and relevant supply chain participants. While the analyst believes rising battery costs are likely to be a 2019 margin headwind, demand from China will likely be stronger than most anticipate, reducing the potential for lowered 2019 unit guidance. China Model 3 deliveries of 2,324 units in May, after the initial 259 deliveries in April, suggest a "credible" second half of 2019 ramp, Irwin contends.'
from 'TheFly':
'Tesla rating change Tesla upgraded to Buy on China demand at Roth Capital. As previously reported, Roth Capital analyst Craig Irwin upgraded Tesla to Buy from Neutral, with a $238 price target, after meetings with major Chinese EV producers and relevant supply chain participants. While the analyst believes rising battery costs are likely to be a 2019 margin headwind, demand from China will likely be stronger than most anticipate, reducing the potential for lowered 2019 unit guidance. China Model 3 deliveries of 2,324 units in May, after the initial 259 deliveries in April, suggest a "credible" second half of 2019 ramp, Irwin contends.'