Telsa Motors Inc. (NASDAQ: TSLA) is getting a bounce after a horrible prior week due to an analyst defense of the stock. What is interesting is that one of the analysts is at a boutique firm which probably 95% of the investing public has never heard of.
One of the drivers, no pun intended, is the expectation of the Model X crossover next month. After a near 20% loss on Friday due to two executives leaving the company (including Tesla’s chief of engineering), two upgrades are here:
Goldman Sachs raised its rating on the electric car maker to Buy from Neutral with a $35 price target value.
The boutique firm called Wunderlich raised its rating to Buy from Hold, noting that these two executive resignations are not likely to impact the timing of nor the impact of the company’s prized sedan production increase throughout 2012.
Tesla’s gain so far today is 18% to $26.91 and the 52-week range is $21.11 to $35.00.
JON C. OGG
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