Tesla, buoyed by strong Model 3 orders, may need more cash
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Stifel 'Awestruck' at Level of Demand for Tesla's (TSLA) Model 3; Reaffirms at 'Buy'
April 1, 2016 6:45 AM EDTStifel is out with commentary on Tesla (Nasdaq: TSLA) following the Model 3 debut on Thursday night. The firm reiterated its Buy rating and $325 price target on Tesla.
Analyst James Albertine offered the following commentary:
We are simply awestruck by the demand surfacing for the Model 3. While we have disagreed with traditional OEMs (comments circa 2008/09) and various investors (comments circa 2012-16) both of whom have questioned whether "demand exists" for electric vehicles, we had no idea the reservation orders would be this strong for... More
