Tesla (TSLA) Gets a Hold Rating from Wedbush

By Jason Carr

Wedbush analyst Daniel Ives maintained a Hold rating on Tesla (TSLAResearch Report) on May 2 and set a price target of $275. The company’s shares closed on Friday at $255.03, close to its 52-week low of $231.13.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 7.4% and a 61.3% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Pivotal Software Inc, and Tenable Holdings Inc.

Currently, the analyst consensus on Tesla is a Hold with an average price target of $280.76, representing a 10.1% upside. In a report issued on April 23, Nomura also reiterated a Hold rating on the stock with a $300 price target.

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Based on Tesla’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $702 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.