Tesla co-founder and CEO Elon Musk stands in front of the shattered windows of the newly unveiled all-electric battery-powered Tesla's Cybertruck at Tesla Design Center in Hawthorne, California on November 21, 2019.
FREDERIC J. BROWN | AFP | Getty Images
Here are the biggest calls on Wall Street on Wednesday:
Citi kept its sell rating on Tesla but raised its target price and said it saw improved free cash flow.
"We're also introducing 2022 estimates and expanding our valuation framework to consider 2022E multiples. Our 2019-20 EPS estimates rise reflecting the Q3 beat and expected Model Y pull-forward. Our 2021E EPS declines somewhat mostly on below-the-line items. We're also introducing 2022E EPS of $13.33. Our price target rises to $222 from $191 on slight improvements to our probably-weighted terminal value approach. Our full bull case / moderate bull case / full bear base probabilities improve to 10/55/35 from prior 5/55/40, in order to reflect Tesla's recently improved FCF generation and the uptick in auto gross margin."
BMO said after the global semiconductor company's earnings report that it didn't find the risk/reward "compelling" anymore.
"With the shares within striking distance of our target price, and with the opportunity in communications well understood and discounted in the current share price, we find MRVL reasonably valued with a balanced risk/reward profile. We are thus lowering our rating to Market Perform from Outperform."
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Here are the biggest analyst calls of the day: Tesla, Target, Denny's & more - CNBC
- TSLA Stock | TESLA Stock Price Today | Markets Insider [Last Updated On: September 6th, 2018] [Originally Added On: September 6th, 2018]
- Nikola Tesla | Biography, Facts, & Inventions | Britannica.com [Last Updated On: October 8th, 2018] [Originally Added On: October 8th, 2018]
- TSLA Stock Price - Tesla Inc. Stock Quote (U.S.: Nasdaq ... [Last Updated On: October 8th, 2018] [Originally Added On: October 8th, 2018]
- Tesla Model Prices, Photos, News, Reviews and Videos - Autoblog [Last Updated On: April 20th, 2019] [Originally Added On: April 20th, 2019]
- Ford, GM rev up electric pickup trucks to head off Tesla - Reuters [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Toyota using Tesla-style Panasonic batteries for China hybrids: sources - Reuters [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Teslas a Game Changer When It Comes to Windshield Wipers - Car and Driver [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- General Motors vs. Tesla: Software Engineer Pay - Dice Insights [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Sweeney Gives Support to 'Tesla Lawsuit' - InsiderNJ [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla Model 3 dominates global EV sales, chases down fossil fuel competitors - The Driven [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Driving A Tesla Model X Through Flood Waters May Look Cool But Isnt A Good Idea - Carscoops [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- See This Tesla Model S Making Smoke? A Bug Is The Cause - InsideEVs [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla Sentry Mode catches couple mistaking Model 3 for their Hyundai Elantra - Driving [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla's Million Mile Battery - Seeking Alpha [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Podcast: Teslas upcoming new battery, Tesla Plaid Powertrain, EVs from Frankfurt, and more - Electrek [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Cuomo on whether Tesla will meet job targets: 'We will find out next year' - Buffalo News [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- What the GM Strike Means For the Fremont Tesla Factory - California Globe [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Watch Tesla V10 with new Netflix, YouTube, Caraoke apps in action surprisingly refined - Electrek [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Sleeping With Tesla Autopilot May Explain Some Of Tesla's Safety Numbers - Forbes [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla Autopilot V10 In-Depth Road Test With Useful Bookmarks - InsideEVs [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Why Tesla Seems to Be Struggling with Q3 Deliveries - Market Realist [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla Alumni Launch Smart Electric Panel to Make It Easier to Go Solar - Tom's Guide [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- A Tesla-Swapped E30 BMW Means 'You'll Never Miss a Yellow Light Again.' - The Drive [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla Dealer Loophole Ideas - CleanTechnica [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Tesla vs. Porsche: Does The Model S Finally Have A Competitor In The Luxurious New Taycan? - Forbes [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- How Musk is Trying to Address Tesla's Service Issues - Market Realist [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- 3 Ways Tesla Is Transforming What It Means To Be A Car - CleanTechnica [Last Updated On: September 19th, 2019] [Originally Added On: September 19th, 2019]
- Ride Along In The World's Quickest Tesla - InsideEVs [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- U.S. Labor Judge Rules That Tesla Interfered With Union Organizing - Jalopnik [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Tesla rolled out its Smart Summon feature, and it's not going well - Driving [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Tesla has reinvented the windshield wiper in new patent - Fox News [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Teslas first big V3 Supercharger expansion is already happening in Canada - The Verge [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- People Are Posting Videos of Close Calls with Tesla's New Smart Summon Feature - Car and Driver [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- People Are Trying to Get Themselves Run Over by Their Own Teslas - ScienceAlert [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Tesla Built-In Camera Captures the Moment 'Very Angry' Woman Keys Car in School Parking Lot - Newsweek [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- In 10 years, Tesla went from a one-car company to a Porsche rival - Business Insider [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Tesla is working on its own more efficient seat with temperature-control system - Electrek [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Tesla Smart Summon isn't for use in public places, America - CNET [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- More On Tesla's Plan To Make Its Own Batteries - InsideEVs [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Older Teslas are reportedly running into an issue where the screen stops working and the car wont charge - Business Insider [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Green Cab Ditches Hybrids In Favor Of Teslas For Its Taxi Fleet - CleanTechnica [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- This Tesla Faced Keying And Break-In Attempt On The Same Day - InsideEVs [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- What it's like to rent Tesla Model 3 on Turo car-sharing app - Business Insider [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla offers peek inside the Crash Lab that helped it win a safety award - Digital Trends [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla (TSLA) Expected to Beat Earnings Estimates: Can the Stock Move Higher? - Yahoo Finance [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Is Tesla Still a Rule Breaker to Believe In? - The Motley Fool [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- California's Power Outage Demonstrates the Biggest Flaw With Tesla's Plan to Sell Everyone an Electric Car - Inc. [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla Update May Have Lowered The Model 3's Range As Well - InsideEVs [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Here's how Tesla's cars stack up against the best of the competition from the world's top automakers - Business Insider [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla: Why Demand Could Be a Concern - Market Realist [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Why Tesla Stock Looks Better Than You Think - Barron's [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla navigating land mines that zapped rivals - Fox Business [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Elon Musk says monster Tesla seen on racetrack will go into production by summer 2020 - Mashable [Last Updated On: October 16th, 2019] [Originally Added On: October 16th, 2019]
- Tesla Roadster Gets The A-Team Treatment In Retro Face Car Renders - InsideEVs [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Tesla: Are the Bears Reaching to Make a Negative Case? - Market Realist [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Will FCA-PSA Buy Tesla Batteries And Drivetrain? - InsideEVs [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- What Does The Tesla Model 3 Have In Common With A Cheap Toyota Etios? - InsideEVs [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Teslas Q3 profit is being scrutinized by analysts and some dont like what they see - MarketWatch [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Did Tesla release an unfinished Smart Summon just to pull an accounting trick? - Digital Trends [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- What Drove Teslas Surprise Third Quarter Profit? - Forbes [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Tesla will roll out a software update that will make the Model S even faster - BGR [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Tesla Demonstrates The Power Of The Internet Of Things - Forbes [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Tesla Is The Underdog In The Electric Car Revolution - Forbes [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Tesla Model S Plaid Spied Testing Aggressive Body At The Nurburgring - Motor1.com [Last Updated On: November 1st, 2019] [Originally Added On: November 1st, 2019]
- Hill and Holmes' impeachment testimony, Netanyahu's indictment and Tesla's 'Cybertruck' reveal: The Morning Rundown - NBCNews.com [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- If Tesla and Ford Motor are about to wage war for the electric-car crown, you wouldnt know it from this exchange - MarketWatch [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- The Brutalist Tesla Cybertruck is designed to instill fear and draw the battle lines on internal combustion - Electrek [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- As electric cars and Tesla make headlines, this CEO is betting on charging stations - Fox Business [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- Teslas strategy is incredibly risky but it still makes lots of sense - MarketWatch [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- Watch Tesla test Model 3 by making it drive into water - Electrek [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- Teslas Cybertruck Will Face These Five Electric Pickups in 2021 - Forbes [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- Elon Musk explains why Teslas Cybertruck windows smashed during presentation - The Verge [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- A Physics Analysis of Tesla's Shattered Cybertruck Windows - WIRED [Last Updated On: November 25th, 2019] [Originally Added On: November 25th, 2019]
- Here's The Main Problem With Tesla's Supercharger Network - Jalopnik [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- More Teslas on the Road Meant Hours-Long Supercharger Lines Over Thanksgiving - The Drive [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- Woman Arrested as Suspected Tesla Driver Who Killed Father of 4 in Pico-Union Hit-and-Run - KTLA Los Angeles [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- Woman Surrenders in Rented Tesla Hit-and-Run Crash That Killed Father of Four - NBC Southern California [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- Why the Cybertruck is a breakthrough for Tesla and designer Franz von Holzhausen - Business Insider [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- Tesla Cybertruck is almost $20,000 cheaper than Ford F-150 over 5 years - Electrek [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]
- Here's how the million-mile battery could lead to Teslas lasting a lifetime - Business Insider [Last Updated On: December 7th, 2019] [Originally Added On: December 7th, 2019]