Tesla stock

Just a week ago, Tesla (TSLA) announced a new public stock offering to raise between $1.4 billion to $1.7 billion – depending on the underwriters exercising their option to purchase additional shares – in order to finance its ambitious Model 3 production program.

In a SEC filing today, Tesla confirmed having closed the offering and that the net proceeds were “approximately $1.7 billion, after deducting underwriting discounts and commissions and estimated offering expenses.”
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Goldman Sachs’ analyst Patrick Archambault issued a new note to clients today about Tesla (TSLA) and sees 22 percent upside for the company’s stock, which has been down following its financial results earlier this month and the announcement that Tesla aims to increase its annual vehicle production to 500,000 cars in 2018 – two years earlier than previously planned. 
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Tesla’s stock (TSLA) was up over 4% in early trading this morning after CEO Elon Musk spent his weekend answering questions on Twitter about the newly revealed Model 3 and sending out updates about the number of reservations Tesla is accumulating.

Since Tesla unveiled the vehicle last week, 8 financial analysts issued new notes updating their analysis of Tesla’s outlook and currently the general consensus is a “buy”, but with an average price target of $253 – representing only a ~6% upside.
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Investors and Wall Street analysts are mostly happy with Tesla’s Model 3 event last night and the confirmation that over 150,000 reservations were placed in the last 24 hours – much more than some of the most optimistic predictions. The company’s stock (TSLA) surged about 10% in early trading before settling down to a 3% gain at ~$236 right after the opening bell.
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Tesla’s stock price had quite the morning. The stock opened 4% down after notorious Tesla “bull” and Morgan Stanley analyst Adam Jonas published a negative note reducing his target price by 25%, but minutes later the stock went green and up 3% on high volume.

Overall Tesla’s stock is down 17% since the beginning of the year. With the fourth quarter financial results coming (Feb 10), let’s take a moment to talk about the stock.
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On Tuesday, Morgan Stanley analyst Adam Jonas issued a new note on Tesla Motors reiterating an “overweight” rating and a price target of $465. Tesla’s stock closed at $248 per share Tuesday – representing a 86% potential upside. In the note, Jonas doubled down on his prediction disclosed in a previous note saying that Tesla will launch a “Uber-like” service to compete in the ride-sharing/taxi market, which he refers to as “Tesla Mobility”.

He said he would be “surprised” if the company didn’t explain their plan for such a service before the unveiling of the Model 3, which is expected in March 2016.
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