Tesla Reveals a New Dual-Motor For Its Model S!
By Sarah Roden
Tesla Motors Inc (NASDAQ:TSLA) is an American automobile company that designs, manufactures, and sells electric cars. On Thursday, October 9th Tesla CEO Elon Musk revealed its new dual motor called “The D” to be featured in its Model S in 2015. The car will have all-wheel drive and an automated feature that can self-park the car, as well as alert the driver in dangerous situations.
In addition to new safety and AWD technology available in the D model, the improved engine will allow the car to accelerate faster when set to different settings and will also allow for a slightly elongated battery life. Furthermore, the driver will be able to summon the car when it is on private property. The “D” model stands for dual; meaning there will be one engine for each set of wheels. At a Tesla launch event in Los Angeles on Thursday, October 9th Musk boasted that the dual engine technology makes the model “better than all-wheel-drive in the past [because] you can dynamically shift the power from the front to the rear at the millisecond level.” Musk continued to remark that driving the D model is “like taking off from an aircraft carrier. It’s like having your own personal roller coaster.”
Shares of Tesla opened at $244.18 on Friday, October 10th. The electric car company has a 1-year high of $291.42 and a 1-year low of $116.10. The stock’s daily moving average is $240.55 and has a 50-day moving average of $261.75. The market cap for Tesla is $29.53 billion and its P/E ratio is not applicable.
On October 10th, Adam Jonas of Morgan Stanley maintained an Overweight rating on Tesla with a price target of $320. He noted that Tesla has great marketing power, all of which had been achieved on the Internet for free. Jonas also appreciated the technological capacities of Tesla Motors Inc (NASDAQ:TSLA), specifically its “smart car” ability to learn on the road. Jonas is ranked #33 out of 3,337 analysts on TipRanks, earning a 67% success rate recommending stocks and a +26.3% average return per recommendation. He has rated Tesla 18 times with a success rate of 72%.
Separately on October 10th , John Lovallo of Merrill Lynch/Bank of America reiterated an Underperform rating on Tesla with a price target of $75. Lovallo believes that Tesla’s innovations “may fail to impress investors and potentially take some wind out of the sails of the bulls” because much of the new technology touted by Tesla is already commonplace in the automobile industry. Lovallo has a 21% success rate recommending stocks, earning an average return of -64.3% per recommendation. He has rated Tesla 12 times with a success rate of 17% recommending the stock.
On average, the top analyst consensus is a Moderate Buy.
To see more recommendations for Tesla Motors Inc (NASDAQ:TSLA) , visit TipRanks today!
Sarah Roden write about stock market news. Sarah can be reached at Sarah@tipranks.com