Tesla Motors Inc (NASDAQ:TSLA) could have another competitor to deal with when Cadillac brings its fully-electric luxury car in the market in a few years. The GM-owned marque has a roadmap to challenge Tesla with its own eco-friendly motoring. There are no specific details of the car yet, except for the few bits such as it would be known as the CT8 or CT9, says a report from Slash Gear.
Few details on the new Cadillac
There are few details available on the new all-electric Cadillac. However, Tesla recently announced a “D” version of the Model S last week, which includes AWD along with autonomous features.
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Tesla Motors Inc (NASDAQ:TSLA) Model S P85D has a speed of 0-60 mph in 3.2 seconds, and identifies speed signs along with automatically adjusting the pace. The new electric Cadillac could compete with the reigning luxury Model S or the much more affordable and upcoming Tesla Model III.
Wall Street not impressed with new features
Tesla lovers are excited to witness the launch of an all-wheel drive version of the Model S sedan. A giant robot arm gave the feel to the attendees that what it is like 0-60 mph in 3.2 seconds along with the autopilot features.
However, Wall Street remains skeptical about the stock. Shares of the company are down more than 20% from its 12-month trading high of $291 per share. The bulls and the bears are way apart, and even the launch of innovative new features did little to raise their confidence.
Bullish/bearish thoughts on Tesla
Analyst Adam Jonas of Morgan Stanley has a price target of $320 per share on Tesla Motors Inc (NASDAQ:TSLA). Credit Suisse analyst Dan Galves has assigned a price target of $325 per share on Tesla. John Lovallo of Merrill Lynch/Bank of America has a price target of $75, while Goldman Sach’s Patrick Archambault is at $210.
CEO Elon Musk can also be categorized as having a bearish outlook as he himself admitted that the valuation of Tesla is a bit high around the same time that marginal decline in the shares started.
Bearish investors and traders carry the idea that Tesla is an auto company trying to transform the car industry in Musk’s image of technology. Analyst Jonas, however, argues that the company has the talent required to deal with the problems faced by traditional automakers.