'Still highly overvalued': Here's what 8 Wall Street analysts are saying about Tesla's blockbuster earnings report (TSLA) | Markets Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

'Still highly overvalued': Here's what 8 Wall Street analysts are saying about Tesla's blockbuster earnings report

The combination of margins and Tesla's reported adjusted Ebitda of $1.2 billion"speaks to a business model which continues to have significantly lower costs and more production efficiency even in the face of challenging circumstances globally given COVID-19," Ives wrote in a Thursday note.

"As more and more automakers develop and market their own electric vehicles, we expect the need to purchase such credits from Tesla will decline over time," said Brinkman. "While TSLA's 2Q:20 results came in better than most expectations, we believe this is more than reflected in the ~300% run-up in TSLA stock YTD," wrote analyst led by John Murphy in a note Wednesday.

Spak also pointed out that Tesla was"once again aided by credits," adding that"TSLA would not have become S&P500 eligible without this lever." Next, investors will turn their focus to Tesla's potential S&P 500 inclusion and upcoming Battery Day,"where the company could demonstrate great improvements in technology and large capacity additions, growing its lead versus potential EV competition," Rosner wrote.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Stop gambling on individual stocks! Investing in index funds and index tracking ETFs is much easier and can make you a millionaire!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street see-saws as investors weigh mixed earnings, stimulus prospectsU.S. stock indexes traded mixed and in a narrow range on Wednesday as investors digested mixed quarterly results, stimulus negotiations in Washington and simmering U.S.-China tensions. This market feels happy, and it's going to stay happy until it doesn't.
Source: Reuters - 🏆 2. / 97 Read more »

These are the Nasdaq stocks Wall Street thinks can move higher after earnings seasonNew for subscribers: These are the Nasdaq stocks Wall Street thinks can move higher after earnings season Check out CNBCPro for a free trial. Pro How do I block your “free trial” ads? Please help, thanks.
Source: CNBC - 🏆 12. / 72 Read more »