Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Tesla the “ultimate high-risk name in autos” says Morgan Stanley analyst, pointing to Model 3 production

Proactive Investors Wednesday, 18 April 2018
Tesla Inc’s (NASDAQ:TSLA) new production goal is 6,000 Model 3 cars per week by the end of June, according to a report by Electrek, an auto news website. In a letter to employees, CEO Elon Musk said that by producing 6,000 electric cars per week, the company would be able to reach its goal of 5,000 cars per week while allowing for a margin of error. The electric car company projected in January that it would produce 2,500 Model 3s per week by the end of 2018. However, a report by Jalopnik revealed that it’s only producing around 2,000 per week. Musk blamed the discrepancy on “excessive automation.” READ: Tesla halts production of Model 3 to iron out issues Racing to meet the production goal, Musk took charge of the production line as of April, claiming that he is up all night and sleeps on the factory floor. Tesla announced on Tuesday that it was halting production to address the issues slowing down Model 3 production. The company later announced that the California factory will be assembling the cars on a 24/7 schedule. READ: Goldman turns bearish on Tesla, sees slump ahead; Elon Musk pushes back in Tweet While Tesla has been in the news for myriad issues lately, the factor that matters is how the demand for the Model 3 is affected, according to KeyBanc analyst Brad Erickson in a note obtained by TheFly.com. Contrary to the bearish sentiment that demand has already taken a hit, Erickson reiterated a Sector Weight rating on Tesla shares. Morgan Stanley analysts referred to Tesla as the “ultimate high-risk name in autos”, estimating that Model 3 production won’t reach 5,000 cars per week until either the third or fourth quarter, in a note shared by TheFly.com. Analyst Adam Jones reaffirmed an Equal Weight rating on Tesla shares and lowered his price target on the stock to US$376 from US$379. Shares of Tesla were up 5 points to US$293 in pre-market trading on Wednesday.
0
shares
ShareTweetSavePostSend
 
Credit: CBS News - Published < > Embed
News video: Tesla temporarily halts Model 3 production

▶ Tesla temporarily halts Model 3 production 01:22

Tesla is temporarily halting its troubled Model 3 sedan production line. The decision comes just a week after CEO Elon Musk told CBS News he felt confident Tesla could emerge from what he called "production hell." Tesla says the shutdown starts Tuesday and will last until Saturday. The automaker...

You Might Like


Recent related videos from verified sources

Tesla Announces Layoffs [Video]Tesla Announces Layoffs 00:47

Tesla has announced that it would lay off 7% of its workforce— about 3,000 workers — to turn its plan to create a $35,000 Model 3 into a reality in "all markets," CEO Elon Musk said in a company..

Credit: Wochit Business - Published

Tesla Decreasing Workforce In An Effort To Increase Production [Video]Tesla Decreasing Workforce In An Effort To Increase Production 00:39

Tesla is slashing its workforce by 7 percent. CNN reports that the electric car manufacturer on Friday announced plans to cut its full-time employee roster as it vies to increase Model 3 production...

Credit: Wochit - Published

Tesla CEO Elon Musk Announces Job Cuts [Video]Tesla CEO Elon Musk Announces Job Cuts 00:38

Tesla announced on Friday that it would be slashing thousands of jobs from its workforce in an attempt to bring down costs and increase production of the Model 3 sedan. The electric car manufacturer..

Credit: Wochit Business - Published

Tesla stock drops [Video]Tesla stock drops 00:57

Shares of Tesla plunged after the company said it's cutting jobs to speed up delivery of mass-market Model 3 sedan and gave a lower fourth-quarter profit outlook. Roselle Chen reports.

Credit: Reuters Studio - Published

Tesla Announces Deep Cuts [Video]Tesla Announces Deep Cuts 00:31

According to Reuters, Tesla's Chief Executive Officer Elon Musk has been under heavy pressure to stabilize the production of the Model 3. The electric car manufacturer said on Friday it would cut..

Credit: Wochit - Published

What Do Tesla’s Layoffs Mean? [Video]What Do Tesla’s Layoffs Mean? 00:43

According to Business Insider, News of Tesla laying off 3,000 workers on Friday has added to investor worries that demand may be shrinking for its Model 3 sedan. In an email to employees, CEO Elon Musk..

Credit: Wochit Business - Published

Tesla To Slash Workforce By 7 percent [Video]Tesla To Slash Workforce By 7 percent 00:45

Digital Trends reports that Tesla will be taking measures to decrease its operating costs and increase Model 3 production in the coming year. Company co-founder and CEO Elon Musk announced on Friday..

Credit: Wochit Business - Published

Tesla Model 3 Totaled in Collision [Video]Tesla Model 3 Totaled in Collision 00:32

Occurred on September 18, 2018 / Los Angeles, California, USA Info from Licensor: "An accident involving a Tesla Model 3."

Credit: Viral Hog Content - Published


Recent related news from verified sources

A top Wall Street auto analyst just called out Ford for falling behind GM. But there's nothing wrong with second place. (GM, F)

A top Wall Street auto analyst just called out Ford for falling behind GM. But there's nothing wrong with second place. (GM, F)
· Morgan Stanley analyst Adam Jonas published a research note contrasting GM's and Ford's prospects. · He rightly touted GM for its leadership and...
Business Insider - Technology

Tesla cuts 7% of workforce to boost margins and production

CEO Elon Musk says in internal email that Tesla “will need to make these cuts while increasing Model 3 production” Tesla will cut its full-time workforce...
Autocar - AutomotiveAlso reported by •ReutersProactive Investors

Volatile market hits Morgan Stanley's trading, wealth management

Morgan Stanley's profit fell short of analyst expectations as trading revenue slumped more than rivals and its wealth management business faltered, sending its...
Reuters - BusinessAlso reported by •SeattlePI.com

Tesla is entering the Model 3 into Pwn2Own, one of the world’s toughest hacking contests

Tesla is handing over its new Model 3 sedan to Pwn2Own this year, the first time a car has been included in the annual high-profile hacking contest. The prize...
TechCrunch - TechnologyAlso reported by •Futurism

Tweets about this


Other recent news in Business

Death toll rises to 66 in Mexico PIPELINE EXPLOSIONNow MIFID II’S TRANSPARENCY RULES GO GLOBAL
TRUMP OFFERS temporary 'Dreamers' deal for border wallBUZZFEED News faces scrutiny after Mueller denies a dramatic report
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest