In a new note to client today, Credit Suisse downgraded SolarCity’s (SCTY) stock from ‘Outperform’ to ‘Neutral’ with a price target of $27.00 (from $38.00 previously) based on what it sees as an increased probability of the Tesla’s (TSLA) acquisition deal closing, which it estimates to be ‘grossly undervalued’.
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Credit Suisse analyst Dan Galves jumped in the pool of Wall Street analysts weighting in on Tesla ahead of earnings this week and it looks like Galves is swimming against the current with a note reiterating an outperform rating and $325 price target on the company.
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In a new note issued this morning, Credit Suisse analyst Dan Galves reiterated an ‘outperform’ rating and $325 price target on Tesla Motors (NASDAQ: TSLA) . The analyst considers the fourth quarter guidance to be “achievable” and he sees a “reasonable path” to $4 EPS in 2016 – compared to the ~$2.30 annualized loss per share in the last quarter.
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