Joseph Osha of JMP Securities says they have lowered their rating on Tesla from Outperform to Market Perform. He says gross margins undershot their expectations. They raise their 2021 unit delivery estimates to 952K units. They cannot justify higher target multiples than 7X revenue and 35X EBITDA.
Morning Trade Live
28 Jan 2021
Joseph Osha of JMP Securities says they have lowered their rating on Tesla from Outperform to Market Perform. He says gross margins undershot their expectations. They raise their 2021 unit delivery estimates to 952K units. They cannot justify higher target multiples than 7X revenue and 35X EBITDA.
Morning Trade Live
28 Jan 2021