Tesla Motors Retain Hold Rating at Deutsche Bank
Monday, October 03, 2021 4:08 PM

Analysts at Deutsche Bank maintained Hold rating on the shares of Tesla Motors, Inc. (Nasdaq: TSLA) as they believe that the company remains on-track for launch of Model S in mid-2012. They set a price target of $24 for the stock.


DB analysts’ state that they were impressed by 90 percent of the production equipment is already in place, operating, and being debugged just 1 year after Tesla took possession of the Fremont, California-based plant. They add that 180 of the 500 total employees needed for one shift for 20 thousand units per year. Analysts state that Tesla’s future rests on its ability to build and sell the Model S in volume at a profit. They add that has received more than 6,000 reservations for the Model S. The new model does 0 to 60 in less than 6 seconds and can charge from any conventional 120-volt or 240-volt outlet. The vehicle comes with three range options: 160 miles, 230 miles and 300 miles and starts at $57,400 or $49,900 after the U.S. federal tax credit.


On a year-to-date basis, Tesla has a share performance of -0.94 percent and as compared to Standard & Poor’s 500, it has an YTD share performance of 9.63 percent.


Tesla Motors designs and manufactures electric vehicles and EV power-train components. It has a market capitalization of $2.74 billion with a P/E ratio of -0.010. It has more than 104 million outstanding shares.


Shares of Tesla Motors lost 3.85 percent or 94 cents to trade at $23.45.