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Monday, November 18, 2013

Tesla (TSLA) Stock Upgraded - $170 Price Target in 2014

Tesla (TSLA) Upgraded w/ $170 Price Target in 2014 - @stockstobuy -

Tesla (TSLA) dropped another 10% today to close around $120 which is causing me to upgrade the stock.  Tesla (TSLA) stock has now dropped from $195 to $120 in about 6 weeks.  TSLA has dropped from $180 to $120 in the past 10 days.

Investors with a longer time horizon than a few days should view this TSLA drop as a good buying opportunity.  We could even see this stock return to $160-$170 before earnings in February 2014 as shorts cover ahead of the results.  The long term thesis is still intact and investors who missed the last rally from $105-$195 are receiving a second chance.

- Tesla has heavy insider ownership with the CEO holding almost 29 million shares or 1/4 of the company.  This is rare in a high growth company.

- Elon Musk continues to buy stock and said he was the first in and will be the last out

- At $120, the company becomes a take over target.  Google (GOOG) or Microsoft (MSFT) could easily write a check for $20 billion.

- Short interest is likely above 35% of the float of 79 million shares.

- Today we saw a 10% down day on heavy volume, a sign of capitulation.

- Tesla (TSLA) is oversold on several key indicators.

- Shorts will take profits ahead of earnings in February 2014.

- Elon Musk can easily burn shorts badly by raising guidance or announcing better battery production pre earnings.