TSLA - Tesla, Inc.
Chart Events
Short-term KST
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 480.01 |
| Open | 511.20 |
| Bid | 0.00 x 3200 |
| Ask | 0.00 x 1400 |
| Day's Range | 498.03 - 521.00 |
| 52 Week Range | 176.99 - 968.99 |
| Volume | 14,901,836 |
| Avg. Volume | 21,106,558 |
| Market Cap | 95.189B |
| Beta (5Y Monthly) | 0.73 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -4.92 |
| Earnings Date | Apr 21, 2020 - Apr 26, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 454.57 |
Fair Value
Related Research
Yahoo Finance VideoCoronavirus scenario that has Dr. Zeke Emanuel really worried
Dr. Ezekiel Emanuel, Former White House Health Policy Advisor for the Obama Administration and Vice Provost of Global Initiatives at the University of Pennsylvania, joins Yahoo Finance’s Seana Smith to discuss the coronavirus outbreak, as the U.S. death toll surpasses 10,000.
- Autoblog
Tesla engineers demonstrate coronavirus ventilator prototype
Engineers at Tesla Inc showed a prototype for a ventilator on Sunday evening in a video published on the company's YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. The design for the ventilators relies heavily on Tesla car parts, one of the engineers said, enabling the company to redeploy existing stock and produce the devices quickly. The video comes two weeks after Chief Executive Elon Musk said Tesla planned to reopen its New York factory to produce ventilators.
- TipRanks
Tesla: Despite Record Q1 Numbers, Uncertainty Looms Ahead
Tesla (TSLA) and its mercurial CEO Elon Musk are never far from the headlines and not always for the right reasons, but last week the company delivered some good news, as it announced its best Q1 ever. Tesla produced 102,672 vehicles and delivered 88,400 in the quarter, 76,260 of which were Model 3s, with the rest taken up by Models S & X. The numbers take into account the shutdown of Tesla's Fremont factory on March 23. The figure also easily beat the Street’s estimate, which called for a total of 79,900 deliveries. Musk also began delivering Model Ys in March, ahead of schedule. Furthermore, despite closing down during the extended Chinese New Year on account of COVID-19, its Shanghai factory has been able to attain record levels of production.So, good news, right? Yes, but what lies ahead is more problematic, says Needham’s Rajvindra Gill. The long time Tesla bear reiterated an Underperform (i.e. Sell) on Tesla shares, without suggesting a price target. (To watch Gill’s track record, click here)The analyst explained, “Despite the strong numbers, we remain cautious on TSLA's deliveries for the remainder of 2020, as automotive demand has largely collapsed in North America and Europe due to the impact of COVID-19. Moreover, it is unclear when the Fremont factory will be back online, significantly hampering Tesla's production capacity. In the long-term, we continue to expect margin pressure from declining sales of higher-margin Model S & X vehicles (GMs of 25-30%), a lower mix within Model 3, and competitive pressures from other automotive OEMS as they launch their EVs over the next few years.”Overall, Wall Street is not convinced that Musk's tech empire's reward is worth all the risk, especially when taking note that TipRanks analytics exhibit TSLA as a Hold. Based on 28 analysts tracked in the last 3 months, 5 rate a Buy on Tesla stock, 13 maintain a Hold, while 10 issue a Sell on the stock. The 12-month average price target stands at $498.65, marking a slight downside from where the stock is currently trading. (See Tesla stock analysis on TipRanks)
- American City Business Journals
Tesla shows off ventilator development that borrows parts from one specific car model
One particular Tesla electric car model is being used to help develop a ventilator aimed at helping those with COVID-19.
- Bloomberg
U.S. Deaths Top 10,000; Possible Plateau in N.Y.: Virus Update
(Bloomberg) -- More signs emerged that the crisis may be easing in some areas, sending stocks soaring. Italy, France, Germany and Spain reported lower numbers of new cases. In New York, Governor Andrew Cuomo said deaths were showing indications of hitting a plateau. U.K. deaths slowed for a second day, even as they passed the grim milestone of 5,000. Prime Minister Boris Johnson, who was hospitalized Sunday after 10 days in isolation, was moved to an intensive-care unit.JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects a major economic downturn and stress similar to the crisis that almost brought down the U.S. financial system in 2008.Japanese Prime Minister Shinzo Abe said he’ll propose a state of emergency in some prefectures.Key Developments:Global cases top 1.3 million; deaths exceed 73,000: Johns HopkinsU.S. deaths surpass 10,000: Johns HopkinsTrump, Biden spoke by phone about the outbreakMilken Conference postponed a second time to OctoberDenmark, Austria began to relax measuresNew York state lockdown extended to April 29Denmark Joins Austria in Easing Curbs (4:38 p.m. NY)Denmark joined Austria in announcing a gradual relaxation of measures imposed to slow the coronavirus’s spread. The country will press ahead with a “cautious reopening” starting with kindergartens and primary schools on April 15 if the virus numbers remain stable, Prime Minister Mette Frederiksen said. The government will also start talks with business leaders on gradually moving employees back into offices.Austria said earlier that it would take its first steps toward restarting its economy. The two countries were among the first in Europe to shut down public life in response to the outbreak. Wisconsin Governor Delays Tuesday Primary (3:15 p.m. NY)Wisconsin Governor Tony Evers suspended in-person voting just hours before the state’s primary was scheduled to begin, though the order could be subject to a court challenge.Although 15 states and Puerto Rico have already postponed their primaries amid the coronavirus pandemic, Wisconsin’s Republican-controlled legislature has rejected requests by Evers, a Democrat, to delay the state’s in-person voting on Tuesday.Evers’s executive order delays in-person voting until June 9 unless the legislature acts to change it.French Cases Leveling Off (1:50 p.m. NY)France reported a continued leveling-off of cases, signaling that confinement measures are starting to contain the crisis.The country had 3,912 new confirmed cases on Monday, fewer than it reported in five out of the past seven days, according to figures presented by Health Minister Olivier Veran. Deaths from the virus rose by 833 to 8,911, Veran said.“The pressure is still very great on hospitals, enormous -- the confinement has to continue,” Veran said. Still, he said there was some reason for optimism. “We can see that the confinement has a palpable effect in France, we’re starting to feel it.”Read more hereWHO May Announce Move This Week to Accelerate Vaccine (1:30 p.m. NY)A new program to accelerate vaccine development and production may be announced this week, World Health Organization Director-General Tedros Adhanom Ghebreyesus said at a press briefing in Geneva.“The difficulty for governments right now is that lockdowns are proving effective in dampening the flames of the epidemic in those countries, but those lockdowns are also causing great economic hardship,” said Mike Ryan, head of the WHO’s health emergencies program. Still, he said it would probably be “very inadvisable” to lift a lockdown completely all at once.“Once you raise the lockdown, you have to have an alternative method to suppress the virus -- active case finding, testing, isolation, tracking of contacts and strong community education,” Ryan said.N.Y. Deaths May Signal Possible Plateau (1:10 p.m. NY)New York Governor Andrew Cuomo said deaths from the coronavirus pandemic were showing signs of hitting a plateau in the state that has become the epicenter of the U.S. outbreak.The challenge, he cautioned Monday, is to maintain the social distancing that has finally pointed New York toward a possible peak in fatalities. For a second day in a row, the percentage increase in the death toll was less than 10%, a turnabout from numbers about twice as large barely a week ago.The peak of the outbreak could fall on the earlier side of the state’s models showing that it could take anywhere from a week to 30 days for the situation to hit its worse.“I get that people are cooped up,” Cuomo said in his daily press briefing. “But, we get reckless, we change and we’re not compliant on social distancing, you’ll see those numbers go up again.”He doubled the fine for social-distancing violations to $1,000.Italy’s New Virus Infections Lowest in Almost Three Weeks (12:20 p.m. NY)Italy reported the lowest number of new coronavirus infections in nearly three weeks, prompting debate over how and when the country should start emerging from a nationwide lockdown.Civil protection authorities reported 3,599 new cases of the disease on Monday, compared with 4,316 a day earlier. Italy registered 636 new deaths linked to the virus, compared with 525 the day before. That brings the total number of fatalities to 16,523.Italy, once the epicenter for Europe, now has fewer cases than Spain and the U.S.California to Send Ventilators to National Stockpile (12:16 p.m. NY)California, which has yet to see its hospitals overrun by patients, plans to loan 500 state-owned ventilators to the national stockpile.“We’re aggressively preparing for a surge -- but we can’t turn our backs on Americans whose lives depend on having a ventilator now,” Governor Gavin Newsom said in a statement.With the New York area experiencing a supply shortage, other states are stepping in to assist. New York Governor Andrew Cuomo said this weekend that Oregon offered to send 140 ventilators to his state.Merkel Says Too Soon to Ease Lockdown (11:43 a.m. NY)It’s too early for Germany to set a date for easing its lockdown, Chancellor Angela Merkel said, holding her first press conference since returning from 12 days of self-confinement after being exposed to Covid-19.She reiterated her support for the use of the European Stability Mechanism and the European Commission’s proposal for job protection, and said the continent will need a plan for reconstruction after the pandemic subsides.At least three tests showed she was free of the virus.Philippines Likely to Extend Lockdown (11:43 a.m. NY)Philippine President Rodrigo Duterte said he’s inclined to extend a lockdown of more than half the country’s population on its main island until April 30 to further stem the coronavirus outbreak.Duterte, in an address late Monday, also said he’s considering tweaking this year’s 4.1 trillion-peso ($80.8 billion) budget to allocate more funds to virus response, as some 200 billion pesos set aside for cash grants to poor families won’t be enough.Israel Cuts Rates for First Time Since 2015 (9:33 a.m. NY)The Bank of Israel shifted course by cutting interest rates and adding new market-based tools. After playing down the potential for cheaper borrowing costs, the monetary committee on Monday reduced the key rate back down to the all-time low of 0.1% from 0.25%.Hong Kong Extends Ban on Nonresident Entry (9:22 a.m. NY)The city’s airport will also continue to halt all transit services until further notice, according to a government statement. The original rules were set to expire by April 7.Germany Plans ‘Limitless’ Aid Program for Small Companies (8:44 a.m. NY)German Chancellor Angela Merkel’s government announced a new “limitless” aid program for small- and medium-sized companies. The program for loan guarantees is the latest measure introduced by the government, which says Europe’s largest economy might contract even more this year than the 5% drop caused by the global financial crisis in 2008 and 2009.Inovio Begins Phase 1 Human Trial of Vaccine (8:41 a.m. NY)Inovio Pharmaceuticals Inc. began a phase 1 human trial of its Covid-19 vaccine, INO-4800. Animal studies show promising immune responses, the company said.Glaxo to Develop Covid-19 Drugs in $250 Million Partnership (8:14 a.m.)U.K. pharmaceutical giant GlaxoSmithKline Plc is joining dozens of companies in the hunt for therapies to treat the illness caused by the coronavirus, signing a partnership with Vir Biotechnology Inc. and agreeing to invest $250 million in the U.S. company.South Africa’s Economy May Shrink as Much as 4%, Central Bank Says (8:09 a.m. NY)South Africa’s economy could contract by 2% to 4% this year due to the coronavirus pandemic and measures to curb its spread, according to the Reserve Bank. The monetary policy committee projected in March that the economy will contract by 0.2%.U.K. PM Johnson Had ‘Comfortable Night’ and Is in ‘Good Spirits’ (8:07 a.m. NY)Prime Minister Johnson is in “good spirits” after spending a “comfortable” night in St. Thomas’s hospital in central London, his spokesman, James Slack, said on Monday. Johnson went to the hospital on Sunday as a “precaution,” he said.Mass Layoffs Push Canada’s Consumer Confidence to All-Time Low (8:00 a.m. NY)The Bloomberg Nanos Canadian Confidence Index, a composite gauge based on a telephone survey of households, declined sharply for a third week as extensive lock downs triggered mass layoffs. The aggregate index dropped to 42.7 last week, the lowest reading since polling began in 2008.Romania to Extend State of Emergency Until Mid-May (7:53 a.m. NY)Romanian President Klaus Iohannis said that he plans to extend the state of emergency over the crisis by another month because “we haven’t reached the peak of the epidemic, so it’s not time to relax.”Netherlands Has Slowest Death Growth in Week (7:40 a.m. NY)The Netherlands reported 101 new fatalities, the smallest increase since March 30. Total reported cases rose 5% to 18,803. An additional 260 patients were admitted to hospitals, according to the RIVM National Institute for Public Health and the Environment.China to Strengthen Transport Control Measures Along Borders (7:15 a.m. NY)China will tighten quarantines in border areas, following a meeting chaired by Premier Li Keqiang. The number of confirmed coronavirus cases found in people who arrived through a land border has surpassed those that came by air.Dimon Sees ‘Bad Recession’ and Echoes of 2008 Crisis Ahead (7:11 a.m. NY)“At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” the CEO said Monday in his annual letter to shareholders. “Our bank cannot be immune to the effects of this kind of stress.”Nigeria to Borrow $6.9 Billion to Offset Virus Impact on Economy (7:03 a.m. NY)The government plans to raise as much as $6.9 billion from multilateral lenders to offset the impact of the pandemic. The state will seek $3.4 billion from the International Monetary Fund, $2.5 billion from the World Bank and a further $1 billion from the African Development Bank, Finance Minister Zainab Ahmed told reporters Monday.French Firms Have Requested Guarantees for EU20 Billion of Loans (6:58 p.m. NY)French Finance Minister Bruno Le Maire said 100,000 companies requested government loan guarantees for a total of 20 billion euros ($21.6 billion). In addition, more than 500,000 small companies have requested aid from France’s solidarity fund.Redhill Announces First Covid-19 Patient Treated With Opaganib (6:19 a.m. NY)RedHill Biopharma said the first patient with a confirmed coronavirus diagnosis was dosed with opaganib in Israel, and additional patients are expected to be treated in the coming days. Pre-clinical data demonstrated anti-viral effects in other viruses, anti-inflammatory activities and the potential to reduce lung inflammation, the company said.Hungary Announces Virus Stimulus Plan of Up to 20% of GDP (6:17 a.m. NY)Hungary’s government will pay some-private sector wages, offer loan guarantees and boost spending on infrastructure and pensions as part of a major fiscal stimulus plan aimed at averting a recession and mass unemployment as the coronavirus pummels the economy. The package, valued at 18% to 20% of gross domestic product including planned stimulus from the central bank, will also see the 2020 budget deficit rise to 2.7% of GDP from 1%, Prime Minister Viktor Orban said on Monday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Barrons.com
Tesla Stock Is Rising After an Upgrade. Here’s What the Analyst Likes.
Tesla caught an upgrade Monday morning, sending shares up about 4.5% in premarket trading. Still, questions remain about how Covid-19 will impact electric-vehicle demand.
- Robb Report
Tesla Is Turning Car Parts Into Much-Needed Ventilators. Here’s How.
The electric automaker is joining its competitors in making the life-saving machines.
- Investor's Business Daily
Coronavirus Stock Market Rally: Dow Jones Soars 1,100 Points On Slowing U.S. Virus Cases; Vertex Breaks Out
The major stock indexes surged higher Monday morning on slowing U.S. coronavirus cases. Amazon and Netflix approach new buy points.
- Investing.com
Tesla Rallies as Wall Street Touts Sales Growth Despite Covid-19 Disruptions
By Yasin Ebrahim
- TheStreet.com
Tesla Lifted to Buy at Jefferies on Public-Policy Support From China and Europe
Jefferies analysts lifted Tesla shares to buy while paring the price target 19%. The firm is encouraged by public-policy commitments from governments in Europe and China to support electric-vehicle sales.
- Zacks
Auto Stock Roundup: TSLA Q1 Deliveries, KMX Earnings & Other Updates
While most of the automakers are reeling under the effects of COVID-19 pandemic, Tesla's (TSLA) Q1 deliveries remain robust and CarMax (KMX) posts a comprehensive beat in fourth-quarter fiscal 2020.
- TipRanks
JPMorgan Picks 2 Stocks to Buy (and 1 to Sell)
Last month, the S&P 500 hit bottom at 2,192 and has staged a mild rally since. The index closed out last week at 2,488. These numbers are important – if they hold, they’ll give traders a degree of confidence that the worst is past, at least in the stock market.JPMorgan strategist Jason Hunter is making the case for just that: "The number of states with above 20% COVID-19 confirmed daily case growth already saw a sharp drop from 40 to below 10 into early April. We are interested to see if that deceleration continues and starts to impact the number of states with growth rates above 10%. Based on the recent correlation, case growth deceleration in that group can help put further downward pressure on implied equity volatility and blunt the nature of a retest of the March equity price low.”Hunter sees 2,100 serving as a floor to the S&P 500 moving forward in April, with a ceiling in the range of 2,750 to 2,850. The strategist expects the index to level out at or near its current level, as volatility dampens in response to slowdown in the spread of coronavirus. In New York and New Jersey, the hardest-hit states in the US, Sunday saw the first declines in the daily report of COVID-19 deaths. Hunter sees it as hopeful, saying, “As NYC marked one of the earlier major outbreaks in the U.S., we suspect further growth rate deceleration over the next week or so could help improve market sentiment.”There’s hope that improving sentiment may mark the beginning a virtuous cycle, and perhaps the turn of the tide for the markets. In the meantime, JPMorgan stock analysts are scrutinizing the market, looking the for the right stocks to get that kickstarted.We’ve pulled up three of the investment bank's recent calls, and run them through the TipRanks database. It turns out that two of the firm’s bullish picks have received significant support from other members of the Street. That being said, one name stands out as being an investment to avoid, falling out of favor with JPMorgan as well as the broader analyst community. Let’s take a closer look.Cabot Corporation (CBT)We’ll start in the chemical industry, where Cabot provides a wide variety of products, including carbon and carbon compounds, ink colorants, rare elements such as tantalum, niobium, ad germanium, and a range of specialty fluids. The company’s products have applications in adhesives, air, water, and chemical purification, construction, coatings, light industry, oil drilling – and even in the food and beverage niche.Cabot reported its fiscal Q1 earnings early in February, for the period ending in December, and the results were disappointing. Revenues were down 11% year-over-year, to $727 million, while the 69 cents EPS missed the forecast by 9% and was down 20% year-over-year. It was not a good footing for the company as the coronavirus epidemic was ramping up.Nevertheless, there were some high points. The company’s cash flow exceeded capex by $37 million, and Cabot ended the quarter with $173 million in cash on hand – a 22% increase from year before. Looking forward, management is guiding toward full year earnings of $3.60 to $3.90 per share, in line with previous estimates.The solid cash position underlies the company’s dividend, which Cabot has been paying out reliably for the last 19 years. The current quarterly payment, after three increases in the past three years, is 35 cents, and the annualized payment of $1.40 gives a yield of 5.4%. The average yield among peer companies in the consumer goods sector is 2.5%, making Cabot’s more than double. The payout ratio, at 50%, shows both a commitment to sharing profits with shareholders, and plenty of room for additional increases.Reviewing Cabot for JPMorgan, analyst Jeffrey Zekauskas saw fit to upgrade the stock from Neutral to Buy. He wrote, “The likely strength of Cabot’s cash flows gives us confidence that Cabot will pay its dividend, which now represents a 5.4% yield in a longer-term interest rate environment close to 1%... We believe that Cabot is likely to return to its 2019 level of value and earnings over a three year period (by F2022), and so we think that the returns to the equity holder will approach a doubling of value over that period.”Zekauskas also raised his price target by 19%, to $31, indicating his confidence in a 19% upside for the stock. (To watch Zekauskas’ track record, click here)Over the past 3 months, four other analysts have thrown the hat in with a view on the chemicals and materials maker. The three additional Buy ratings provide Cabot with a Strong Buy consensus rating. With an average price target of $35.25, investors stand to take home an 36% gain, should the target be met over the next 12 months. (See Cabotvstock analysis on TipRanks)T-Mobile US (TMUS)It’s been a memorable spring for T-Mobile, for more than just the obvious reasons. The company on April 1 completed its long merger process with Sprint, making Sprint a wholly owned subsidiary company. The companies were the third and fourth largest wireless carriers in the US market, and together boasted 140 million subscribers at the end of 2019, along with a combined $77.5 billion in top-line revenue. The merger process has taken two years to complete.T-Mobile started the merger process in 2018, with an eye ahead toward 5G. The company sought to increase its customer base, infrastructure, and available capital resources for the rollout of the new networks. That rollout got started this past December, before the merger was complete, when T-Mobile launched 5G digital in over 5,000 cities and towns, covering some 200 million people.The good news for TMUS did not end there. The company saw positive results in the fourth quarter, reporting 87 cents EPS and $11.9 billion in top-line quarterly revenue. The EPS was 4.8% above the estimates, and up 16% year-over-year. The revenue number also beat the forecast, and gained 3.4% yoy.5-star JPMorgan analyst Philip Cusick looks at the implications of the completed Sprint merger for TMUS, and writes, “We believe that T-Mobile will continue to offer a solid product for a lower price than peers AT&T and Verizon, and that the combined company’s network in a few years will be closer to parity with larger peers than it is today, offering more relative value to customers over time.”"Trading at 7.3x 2021E core EBITDA (or 6.0x including full EBITDA synergies) vs 6.6x Verizon and 6.3x AT&T we see T-Mobile as attractive," Cusick concluded.Cusick is impressed enough by the possibilities to initiate coverage of the stock with a Buy rating. His $110 price target suggests an impressive 34% upside potential. (To watch Cusick’s track record, click here.)T-Mobile’s Strong Buy consensus rating is based on 11 Buys that overbalance the single Hold. Shares are selling for $81.98, and the average price target of $103.36 implies a 26% premium. (See T-Mobile’s stock analysis at TipRanks)Tesla, Inc. (TSLA)Tesla has had its ups and downs, and Elon Musk’s genius for generating headlines has made sure that everyone knows about it. In recent weeks, the company has met the COVID-19 crisis with a ventilator prototype made from electric car parts, which is good, and not just as a possible aid in meeting a serious public health need.The electric car giant is facing an automotive production shortfall, as its Shanghai Gigafactory, part of Tesla’s battery supply chain, is unlikely to meet the supply needs of the company’s US, UK, and Australian operations. And in the US, Tesla has been forced to shut down production at its Fremont, California plant since March 23. The shutdown comes just as the company was intending to scale up Model Y SUV production to meet increased demand.Production shortfalls are meeting increased demand, as Tesla earlier this month boasted high electric vehicle sales in Q1. The company reported over 88,000 vehicle deliveries in the quarter, with 76,200 of those being the lower-priced Model Y and Model 3. Quarterly production reached over 102,000 units, and marked the company’s best ever Q1 performance. This was, simply put, a bad time for the COVID-19 epidemic to hit the production lines.Investors have taken notice. TSLA shares are down 47% in the current market slump, a severe underperformance compared to the broader markets.JPMorgan’s 5-star analyst Ryan Brinkman believes "2Q will prove much more challenging (we forecast deliveries -36% q/q to just 57,000), including of course because of COVID-19 but possibly also as a result of the stronger than expected 1Q figures which may have left [production] channels full.”As a result, Brinkman maintains his Sell rating on TSLA shares, with a price target that, at $240, suggests a 50% downside in the coming year. (To watch Brinkman’s track record, click here)Wall Street agrees that Tesla is a risky play. The stock gets a Hold from the analyst consensus, based on a mix of reviews including 4 Buys, 14 Holds, and 10 Sells. The stock is not cheap, and even now sells for $480, while the $505 average price target implies a modest upside of 5.24%. (See Tesla’s stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- Benzinga
Jefferies Upgrades Tesla, Says Company Is 'Doubling Market Coverage With Model Y'
Electric vehicle maker Tesla Inc (NASDAQ: TSLA) converted another one of its Wall Street skeptics on Monday.The Tesla Analyst Jefferies analyst Philippe Houchois upgraded Tesla from Hold to Buy, but cut his price target from $800 to $650.The Tesla Thesis In the note, Houchis said COVID-19 and slumping gasoline prices will make the near term a difficult road for Tesla. However, he said the company had four major advantages in the long term: 1. As the auto industry transitions to electric over time, Tesla will not have to deal with the upgrade costs that the legacy automakers do. 2. Not only is Tesla gaining market share from legacy automakers, EVs are a positive-sum game. 3. Tesla is roughly "doubling market coverage with Model Y." 4. Tesla is leading an auto technology revolution.Despite his bullish long-term outlook, Houchois said Tesla investors should expect some challenging 2020 numbers after the company reported 88,400 vehicle deliveries in the first quarter.Jefferies is projecting $6.1 billion in first-quarter revenue for Tesla, up 34.3% from a year ago. The firm is also projecting auto gross margins will contract by 3.1% to 17.8% and negative free cash flow of $250 million."Looking further out, we see Tesla's ability to attract capital as a strong positive as pressure on the industry's transformation accelerates," Houchois wrote.Following Tesla's $2.2 billion first-quarter capital raise, Jefferies is projecting the company will finish the first quarter with $4.6 billion in net debt.Benzinga's Take Tesla will likely get a free pass when it comes to its near-term numbers in 2020 due to the COVID-19 disruption. For the remainder of the year at least, Tesla shares will likely continue to trade on the stock's long-term story rather than its fundamental business metrics.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:Tesla Analysts Dissect 'Surprisingly Strong' Q1 Deliveries Data Tesla Is Still A 'Maximum Short' For ChanosLatest Ratings for TSLA DateFirmActionFromTo Apr 2020JefferiesUpgradesHoldBuy Mar 2020Piper SandlerMaintainsOverweight Mar 2020Morgan StanleyMaintainsEqual-Weight View More Analyst Ratings for TSLA View the Latest Analyst RatingsSee more from Benzinga * Tesla Analysts Dissect 'Surprisingly Strong' Q1 Deliveries Data * Tesla, Wayfair And Other Profitable Short Trades Could Get A Short Covering Boost * Benzinga CEO Talks Hedging Bets, Dividend Plays On PreMarket Prep(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- MarketWatch
Tesla stock gets an upgrade at Jefferies
Jefferies analyst Philippe Houchois upgraded Tesla Inc.'s stock to buy from hold on Monday, writing that while low gas prices could be a headwind to customer demand in the near term, he's encouraged by "continued public policy commitment to supporting [electric-vehicle] sales" in Europe and China. Houchois also argued that Tesla's balance sheet should remain in "solid shape" despite disruptions to the company's inventories and receivables at the end of the first quarter due to the COVID-19 outbreak. "Looking further out, we see Tesla's ability to attract capital as a strong positive as pressure on the industry's transformation accelerates," he wrote. Houchois lowered his price target to $650 from $800 in conjunction with the upgrade. Tesla shares are up 5% in premarket trading Monday. The stock has lost 32% over the past month, as the S&P 500 has fallen 16%.
- Zacks
Tesla (TSLA) Q1 Deliveries Impress Despite Coronavirus Crisis
Tesla's (TSLA) Model S/X division records production and delivery volume of 15,390 and 12,200 vehicles, respectively, in Q1.
- Investor's Business Daily
Dow Jones Futures Jump As Virus Cases Slow; Why This Stock Market Rally Is More Dangerous Than The Coronavirus Market Crash
Futures rose Sunday. The choppy market rally is riskier for active investors than the coronavirus stock market crash. AMD, Nvidia, Amazon and Microsoft are stocks to watch.
- MarketWatch
Tesla stock is not reflecting impact on demand of a global recession, Baird analyst says
Tesla Inc.'s stock has not priced in the impact on demand of a global recession, which could hurt its business for several quarters or longer, Baird analyst Ben Kallo wrote Monday. It took about five years for peer auto sales to recover from the 2008 recession, Kallo wrote in a note to clients. "That said, we do think TSLA could fare better than luxury peers, with new products/geographies driving growth, a potentially widening EV competitive advantage, and OTA updates keeping vehicles fresh," the analyst wrote. Model 3 comps reached peak U.S. sales in 2007 but then fell about 31% during the crisis and only hit a trough in 2009, he wrote. It was another roughly six years before recovering to pre-recession highs. "Similarly, U.S. auto SAAR took 5-6 years to recover to pre-recession levels after declining ~35% between 2007 and 2009," said the note. {"While the 2008 downturn was clearly an outlier historically, if the duration of recoveries is similar we think there could be an overhang on demand." Kallo rates the stock as neutral with a $525 price target. Tesla shares were up 6.5% premarket and have gained about 15% in the year to date, while the S&P 500 has fallen 23%.
- Benzinga
Tesla Shows 'Car Parts-Based' Ventilator Prototype For Coronavirus Pandemic
Tesla Inc. (NASDAQ: TSLA) on Sunday publicized a prototype of its ventilators for patients who fall critically ill from novel coronavirus (COVID-19).What Happened "We are trying to make some ventilators out of some car parts so that we can help out the medical industry without taking away from their supply," one of the Tesla engineers, who is a part of the project, said during the demonstration.The engineers didn't specify a timeline for the production of the ventilators. "There's still a lot of work to do, but we're giving it our best effort," one of the employees said.Tesla had to shut down its Fremont and New York factories for regular production due to the shelter in place orders imposed by local authorities.The automaker's chief executive officer Elon Musk later said the New York gigafactory would be reopened to produce ventilators for patients who fall critically ill from infecting the coronavirus and require breathing support.Tesla earlier delivered the promised 1,000 ventilators to the government of California, but the company hadn't manufactured the ventilators itself.Ford Motor Company (NYSE: F) also said last week that it would make 50,000 ventilators in the next 100 days, in collaboration with the General Electric Company's (NYSE: GE) healthcare subsidiary.There are 337,310 confirmed COVID-19 cases in the United States at press time, according to data from Johns Hopkins University, and 9,643 people have died from the virus in the country,Price Action Tesla's shares closed 5.62% higher at $480.01 on Friday. The shares traded 1.04% lower in the after-hours session at $475.Photo Credit: Screenshot of Tesla Video.See more from Benzinga * Apple To Make 1M Face Shields Per Week For Coronavirus Health Workers * Global Coronavirus Cases Surge Past 1M, Medical Equipment Remains In Shortage * Tesla Is 'Crushing The Auto Industry', Munster Says, As Company Posts Q1 Delivery Figures(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Financial Times
Saudi Arabia’s PIF takes 8.2% stake in cruise operator Carnival
Saudi Arabia’s Public Investment Fund has built an 8.2 per cent stake in struggling cruise operator Carnival, marking the Gulf fund’s latest high-profile direct investment after previous bets on companies such as Tesla and Uber. The PIF’s position amounts to a $430m stake based on the US-traded company’s share price, which rose 23 per cent on Monday, but is still down by almost 80 per cent this year. The PIF, which is used by Crown Prince Mohammed bin Salman to advance and diversify Saudi Arabia’s economic interests, revealed that it owned 43.5m shares in a regulatory filing signed by its head, Yasir al-Rumayyan, who is a close ally of the prince.
- Bloomberg
Tesla Shows Ventilator Prototype Made From Car Components
(Bloomberg) -- Tesla Inc. engineers showed footage of a prototype ventilator the company is trying to make with auto parts amid a shortage of the machines for coronavirus patients.According to the video on Tesla’s YouTube channel, the design includes a touch screen, computer and control system from a Model 3 electric car. Tesla is taking advantage of components that are familiar, reliable and available, an engineer says in the video.Click here to see the videoNew York Governor Andrew Cuomo, among those urgently trying to source more ventilators, said Sunday that supply-chain disruption is the biggest hurdle for every manufacturer, including Tesla.“Their timeframe frankly doesn’t work for our immediate apex,“ he said at a press conference. “Nobody can make you a ventilator right now in two weeks. You can’t make ventilators that fast because there are parts that have to come from other countries.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Tesla engineers show ventilator prototype on YouTube
Engineers at Tesla Inc showed a prototype for a ventilator on Sunday evening in a video published on the company's YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. The design for the ventilators relies heavily on Tesla car parts, one of the engineers said, enabling the company to redeploy existing stock and produce the devices quickly. The video comes two weeks after Chief Executive Elon Musk said Tesla planned to reopen its New York factory to produce ventilators.
- SmarterAnalyst
Tesla Sees Solid Quarterly Deliveries Despite Global Coronavirus Pandemic
Tesla Inc (TSLA) said it delivered the highest number of vehicles in any first quarter ever despite the outbreak of the coronavirus pandemic.The electric carmaker delivered 88,400 vehicles in the first quarter, slightly below Wall Street estimates of 89,000 vehicles. Tesla produced almost 103,000 vehicles during the period. The company started to temporarily suspend production at its San Francisco Bay Area car factory on March 24.“This is our best ever first quarter performance,” Tesla said in a statement.Tesla’s first-quarter vehicle report sent the company’s shares up 5.6% in New York trading on Friday.Five-star analyst Philippe Houchois at Jeffries, who reiterated his Hold rating, said the report "should be seen as positive given unusual seasonality”. Like Jeffries’ Houchois, the consensus of Wall Street analysts tells investors to Hold the stock based on 14 Holds, 9 Sells and 4 Buys. The $512.23 average price target forecasts shares will rise 6.7% in the next 12 months. (See Tesla’s stock analysis on TipRanks)Moreover Tesla reported that production of its Model Y sport utility vehicle started in January and deliveries began in March, “significantly” ahead of schedule. In addition, the company disclosed that its Shanghai factory “continued to achieve record levels of production, despite significant setbacks”.Related News: General Motors, Honda Join Forces to Build Two Electronic Cars 3 Coronavirus Stocks That Could Lead the Market to Recovery Hang in There, Upwork Investors, Better Days Ahead, Says Analyst More recent articles from Smarter Analyst: * Tesla: Despite Record Q1 Numbers, Uncertainty Looms Ahead * Is 14% Potential Upside Good Enough to Risk Buying Zoom Stock? This Analyst Says Yes * GlaxoSmithKline, Vir Biotech Team Up in Hunt For Coronavirus Treatment * This Penny Stock Joins the Fight Against Coronavirus; Analyst Sees Triple-Digit Upside
- MarketWatch
Tesla’s sales a ‘sigh of relief’ for bulls
Tesla Inc. may have cleared a hurdle this week, but investors remained cautions about the company’s prospects amid the continued fallout from the novel coronavirus pandemic. Tesla late Thursday reported first-quarter deliveries just a bit lower than consensus, which sent shares to double-digit gains in the extended session. Tesla (TSLA) shares traded as high as $515.49 Friday, poised to snap a two-day losing streak, a day after the Silicon Valley electric-car maker announced first-quarter deliveries, its proxy for sales, and production numbers.
- Autoblog
Tesla cuts contractors from factories in California and Nevada
According to a report from CNBC, Tesla is cutting hundreds of contractors from its assembly plant in Fremont, California and its sprawling Gigafactory outside of Reno, Nevada. "It is with my deepest regret that I must inform you that the Tesla factory shutdown has been extended due to the COVID-19 pandemic, and as a result, Tesla has requested to end all contract assignments effective immediately," Balance Staffing, a workforce management company, said in a memo that was seen by CNBC. Temp workers from other staffing agencies received similar notices, according to the CNBC report.
