By Sarah Roden
Tesla Motors Inc (NASDAQ:TSLA) will report second quarter earnings on Wednesday, August 5, after market close. It’s been a busy year for the company as they unveiled the Tesla Powerwall, a rechargeable solar-powered battery for home use, and provided updates on new Tesla models and the gigafactory. Amid all these innovative developments and upcoming earnings, here are the top 6 analysts who cover Tesla:
Adam Jonas of Morgan Stanley most recently maintained an Overweight rating on Tesla on June 16 with a $280 price target. Despite his bullish rating, Jonas remained skeptical of Tesla’s ability to meet its Model X sales goal. Due to limited production capabilities, Jonas warned that the company may miss its sales goals by 4,000 cars, resulting in only 3,100 Model X cars ready for delivery. Aside from these near-term concerns, Jonas voiced optimism in the future of electric vehicles.
Adam Jonas has rated Tesla 31 times since March 2011. When measured over a one-year horizon and no benchmark, Jonas has earned a 94% success rate recommending the stock with a +46.8% average return per TSLA rating. Overall, Jonas a 67% success rate recommending stocks with a +20.8% average return per rating.
Dan Galves of Credit Suisse last rated Tesla on June 29, when he maintained an Outperform rating on the stock and raised his price target from $290 to $325. At the time, Galves estimated that Tesla would deliver between 11,000 and 11,500 units the in the second quarter, ahead of the company’s estimates of 10,000 to 11,000. Galves commented on Tesla’s overall guidance for delivering 55,000, including 48,000 Model S deliveries, units in 2015, noting, “Achievement of this would represent 52% growth in 3rd full year of Model S sales, undercut the most prevalent short thesis, and would increase confidence for 100k-150k combined S/X sales over next couple years”
Dan Galves has rated Tesla 22 times since August 2010, earning a 100% success rate recommending the stock and a +34.5% per TSLA rating when measured over a one-year horizon and no benchmark. Overall, Galves has an 82% success rate recommending stocks with a +22.9% average return per rating.
Ben Kallo of Robert W. Baird last rated Tesla on July 8. The analyst reiterated an Outperform rating with a $335 price target after other analysts had downgraded the stock. Kallo assured it was “the wrong time to pull money out of the stock with the upcoming launch of the Model X and Q2 results.” He added, “The launch of the Model X will increase TSLA’s brand value and help solidify TSLA as a long-term investment.” The analyst was also looking forward to future milestones for the company, such as announcements regarding the gigafactory and impending details on the Model III.
Ben Kallo has rated Tesla 34 times since February 2013. The analyst has an 83% success rate recommending Tesla with a +33.7% average return per TSLA rating when measured over a one-year horizon and no benchmark. Overall, Kallo has a 56% success rate recommending stocks with a +10.4% average return per rating.
Andrea James of Dougherty most recently rated Tesla on June 15 after Tesla announced a $500 million revolving credit agreement. The analyst maintained a Buy rating on the company with a $355 price target. James saw the agreement as a “positive development,” noting, “Freeing up working capital will also allow Tesla more leeway to streamline unit deliveries by geography.” James explained that effective delivery execution is important in order to prevent a buildup of inventory.
Andrea James has rated Tesla 13 times since May 2011, earning an 100% success rate recommending the company and an average return of +32% per TSLA rating when measured over a one-year horizon and no benchmark. Overall, James has a 68% success rate recommending stocks with a +9.7% average return per rating.
Trip Chowdry of Global Equities most recently maintained an Overweight rating on Tesla with a $385 price target on July 20. Chowdry provided the rating after Tesla hosted a conference call in which Elon Musk highlighted slight changes to the Model S. The analyst explained, “Tesla is first a technology company,” which is why there are constant changes and upgrades to new Tesla models.
Trip Chowdry has rated Tesla 18 times since June 2013. When measured over a one-year horizon and no benchmark, Chowdry has an 89% success rate recommending the stock and a +31.5% average return per TSLA rating. Overall, the analyst has an 85% success rate recommending stocks with a +28.5% average return per rating.
James Albertine of Stifel Nicolaus last weighed in on Tesla on June 10 after the Annual Shareholder Meeting. Albertine reiterated a Buy rating on the stock with a $400 price target. Overall, commentary provided at the shareholder meeting was as expected as management reinforced optimistic views. Albertine noted that he expected the Model X to launch in the fourth quarter. “The biggest surprise,” Albertine notes, “was the announced retirement of CFO Deepak Ahuja.” Overall, the analyst noted, “there were some, though minimal, new positive takeaways from [the meeting].”
James Albertine has rated Tesla 19 times since August 2013, earning a 100% success rate recommending the stock and a +22.3% average return per TSLA rating when measured over a one-year horizon and no benchmark. Overall, Albertine has a 77% success rate recommending the stock and a +18% average return per rating.