Zacks Investment Research upgraded shares of Tesla Motors, Inc. (TSLA) from NEUTRAL to OUTPERFORM on February 27, 2014, with a target price of $304.00.
We are raising Tesla Motors to Outperform based on its rising production and sales and rapid international expansion. The company has clinched a substantial share of the electric car market, thanks to an impressive product portfolio and a rapidly developing Supercharger network. Although the company faces headwinds like production constraints, high prices and mounting expenses and is yet to generate sustainable profits, it is well placed to gain from product launches and international expansion. Tesla logged adjusted income of $0.13 per share in the fourth quarter of 2013, rebounding from a loss of $0.78 in the year-ago quarter. This compared favorably with the Zacks Consensus Estimate of $0.04. Revenues jumped 148.5% to $761.3, beating the Zacks Consensus Estimate of $679 million.
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