Jefferies Sticks to Its Hold Rating for Tesla (TSLA)
In a report released today, Philippe Houchois from Jefferies maintained a Hold rating on Tesla (TSLA – Research Report), with a price target of $300.00. The company’s shares closed yesterday at $389.10.
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Houchois covers the Consumer Cyclical sector, focusing on stocks such as Mercedes-Benz Group, Bayerische Motoren Werke Aktiengesellschaft, and Tesla. According to TipRanks, Houchois has an average return of 16.5% and a 54.35% success rate on recommended stocks.
Tesla has an analyst consensus of Hold, with a price target consensus of $331.77, implying a -14.73% downside from current levels. In a report released yesterday, TD Cowen also reiterated a Hold rating on the stock with a $180.00 price target.
Based on Tesla’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $25.18 billion and a net profit of $2.17 billion. In comparison, last year the company earned a revenue of $23.35 billion and had a net profit of $1.85 billion
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Tesla (TSLA) Company Description:
Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.