Tesla’s Model 3 Is a Success–Now It Just Needs to Actually Make Them

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Source: Blogs Barrons Stocks To Watch

Analysts are getting out on the road with the new Tesla Model 3, and they’re liking what they’re driving.

Guggenheim’s Robert Cihra took a spin in the latest Tesla (TSLA) model, writing that it’s just like a “true” Tesla, but much cheaper–and that’s good news.

He reiterated a Buy rating and $430 price target on the stock today. Cihra writes that Tesla had already planned for its Model S and X to be more “proofs of concept” for electric vehicles, while the Model 3 was to be the first car priced affordably, to create high volumes, and that once the production ramp issue is solved, Tesla will have succeeded.

From his note:

That said, Tesla didn’t provide any update on the production ramp to Cihra.

The shares are trading down slightly this morning.

Source: Blogs Barrons Stocks To Watch