Jefferies raised the firm’s price target on Tesla (TSLA) to $195 from $165 and keeps a Hold rating on the shares. The company’s “We, Robot” event “mostly fell flat” and without much indication of progress on either technology or business models, the firm is “back to focusing on operations and lingering concerns about governance and funding,” the analyst tells investors. For Q3, Jefferies forecasts revenue, auto gross margin and free cash flow of $19.9B, 14.5% and $1.6B, respectively, the analyst noted.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- Intel (NASDAQ:INTC) Slips on Chinese Spying Allegations
- Charged: Analyst forecasts earnings beat for Tesla ahead of results
- Here’s what Wall St. experts are saying about these automakers ahead of earnings
- Why Ford Stock Is Not a Confident Pre-Earnings Pick
- Notable open interest changes for October 21st