EV Engineering News

Analyst downgrades TSLA, shares remain in stop-and-go traffic

As the only pure EV company that’s publicly traded, Tesla Motors [Nasdaq:TSLA] has caused many an auto fanatic to turn stock enthusiast, following market data with a zeal formerly reserved for such things as gear ratios and 0-60 ratings. This week, analysis firm Wunderlich Securities lowered its recommendation for Tesla stock to Sell, saying that the firm plans to cut its third-quarter production target for the 2012 Model S.

Analyst Theodore O’Neill reported that Tesla said it would probably deliver 500 cars through the end of September, down from a previous target of 1,000, and attributed the delays to unspecified production issues.

According to Green Car Reports however, a Tesla spokesperson seemed to deny that, saying, “Tesla’s plan has been and continues to be a focus on quality while ramping up production of Model S. This plan has not changed, and there have been no unexpected challenges or issues.”

Whatever’s going on, investors seemed no more than mildly annoyed – TSLA, which had been on a roll so far this month, has lost a little ground since the downgrade, but is still trading not too far from historic highs.


Image: jurvetson (flickr)

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