Jefferies reiterates its Buy rating on Tesla Motors TSLA and raises its price target to $39 (previously $35) on above-estimates for 2012.
Jefferies comments, "TSLA guided 2012 revenue above the Street, offsetting the wider 4Q loss. Positive developments include: 1) TSLA announced a new drivetrain program with Daimler; 2) the Model X launch is off to an immediate success with over 500 Model X cars reserved; and 3) Model S production remains on track for July delivery to customers. TSLA will present at the Jefferies Cleantech Conference on Feb. 23."
TSLA closed at $33.60 a share yesterday.
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