Analysts at Cowen and Co. started covering Tesla Motors Inc. stock, giving it their equivalent of a sell rating in a note to clients Thursday. There’s “execution risk” within the next year and a half, and the impending deal to buy SolarCity Corp. adds complexity at a time Tesla would do better focusing on its battery factory and the Model 3 launch, the analysts said in the note. They set a price target of $160 for Tesla, which represents a 16% downside from Thursday’s prices. According to FactSet, analysts covering Tesla average a price target of $243.53 on the stock and most rate it neutral.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News