Tesla Motors Inc (TSLA) is Downgraded by Morgan Stanley to Equal-Weight, Lowers Price Target to $ 245

Tesla Motors Inc (TSLA) was Downgraded by Morgan Stanley to ” Equal-Weight” while Lowering the Price Target of the company shares to $ 245 from a previous price target of $333 . Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 23, 2016.

Many Wall Street Analysts have commented on Tesla Motors Inc. Tesla Motors Inc was Downgraded by Oppenheimer to ” Perform” on Jun 22, 2016. Piper Jaffray Initiated Tesla Motors Inc on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $223.Sterne Agee CRT Initiated Tesla Motors Inc on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $300.

On the company’s financial health, Tesla Motors Inc reported $-0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.67. The company had revenue of $1601.70 million for the quarter, compared to analysts expectations of $1598.62 million. The company’s revenue was up 45.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.36 EPS.

Tesla Motors Inc closed down -0.09 points or -0.04% at $219.61 with 45,29,005 shares getting traded on Tuesday. Post opening the session at $220.68, the shares hit an intraday low of $218.81 and an intraday high of $222.569 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 15, 2016, Kimbal Musk (director) sold 460 shares at $224.37 per share price. According to the SEC, on Jun 9, 2016, John Douglas Field (VP, Engineering) sold 1,000 shares at $230.75 per share price. On May 26, 2016, Elon Musk (CEO) sold 2,782,670 shares at $213.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Tesla Motors Inc. is a United States-based company which designs develops manufactures and sells electric vehicles electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S which is a fully electric four-door five-adult passenger sedan. In addition to developing its own vehicles it develops sells and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes commercial sites and utilities. The applications for these battery systems include backup power peak demand reduction demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car Supercharger charging stations and Powerwall a home battery.

Tesla Motors Inc

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