Oppenheimer Thinks Tesla’s Stock is Going to Recover

By Jason Carr

Oppenheimer analyst Colin Rusch maintained a Buy rating on Tesla (TSLAResearch Report) today. The company’s shares closed yesterday at $262.75, close to its 52-week low of $247.77.

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 11.5% and a 51.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor Corporation, Capstone Turbine Corp, and Canadian Solar Inc.

Currently, the analyst consensus on Tesla is a Hold with an average price target of $293.14, implying an 11.6% upside from current levels. In a report issued on April 8, Jefferies also maintained a Buy rating on the stock with a $400 price target.

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Based on Tesla’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $139 million. In comparison, last year the company had a GAAP net loss of $710 million.

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Tesla, Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through Automotive, and Energy Generation and Storage segments.