Electric vehicle leader Tesla Inc (NASDAQ: TSLA) reported second-quarter financial results after market close Wednesday. FIve analysts broke down the quarterly results, what a large sale of Bitcoin (CRYPTO: BTC) could mean and what’s ahead for Tesla.
The Tesla Analysts: Morgan Stanley analyst Adam Jonas had an Overweight rating and a price target of $1,150.
RBC Capital Markets analyst Joseph Spak had an Outperform rating and a price target of $1,100.
Wells Fargo analyst Colin Langan had an Equal Weight rating and lowered the price target from $830 to $820.
Needham analyst Rajvindra Gill had an Underperform rating and no price target.
Wedbush analyst Daniel Ives had an Outperform rating and a price target of $1,000.
The Analyst Takeaways: Morgan Stanley’s Jonas said the second quarter earnings report was stronger than expected and said Tesla remains in the pole position.
“Hard to see what really rocks the boat on consensus on Tesla until the company posts a more significant margin miss,” Jonas said.
The analyst points to the most important factors for the stock moving forward being the re-opening of factories in China, ramp-up from the Austin and Berlin gigafactories and margins.
RBC Capital Market’s Spak said the second quarter report from Tesla might be the company getting its “tough quarter out of the way.”
“We see little to change anyone’s views, but continue to …
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