Tesla's (TSLA-US) privatization plan ended in vain, and Wall Street analysts believe the event has revived Tesla's credibility. Tesla shares closed at 1.1% on Monday (28th) at $ 319.27.
The whole started with the 7th tweet from Executive Elon Musk, in which he said he is considering privatizing the company for $ 420 per share, which has ignited the controversy and volatility of stock prices in recent weeks. His motivations and sources of funding were questioned.
On Friday evening, Musk pointed out in a blog post that the company would continue to trade the stock market on the grounds that existing shareholders objected to its privatization plan.
RBC Capital Markets believes that the events of the past month have affected investors' perceptions about the management of the company.
Bank analyst Joseph Spak said on Sunday in a report to customers that the credibility of Tesla has been hit. Maske & # 39; s article on Friday showed that the idea of privatization was not planned or had not been planned at all. It is clear that the funds were not secured, or that no one was interested enough to privatize the company for $ 420 per share.
Spak reiterated that the target price of Tesla is $ 315.
Some analysts are still rude. Jim Chanos, a famous short-selling seller who thinks Tesla is worth $ 0, describes this as a "corporate governance disaster." Jeffrey Osborne of the Cowen Group pointed out that he believes the company will get into trouble in the near future, such as shareholder complaints and Mus to Musk's research.
There are still analysts who are optimistic
Citi Research believes that the focus should also be on the fundamentals and financial situation of the company. Analyst Itay Michaeli said: "There are now no privatization transactions, we believe that the protection of Tesla is not sensible, and it is wise to get a large amount of new share capital as quickly as possible."
Michaeli retains Tesla & # 39; s neutral / high risk classification and a target price of $ 356.
An analyst found good news from Tesla's announcement last Friday. Nomura Instinet analyst Romit Shah said he is optimistic because the board of directors of Tesla repeated his support to Musk. Shah repeated his Buy rating on Tesla shares but lowered his target price from $ 450 to $ 400.
Also optimistic is Baird analyst Ben Kallo, who believes that the fundamentals of the company are steadily improving and are currently being underestimated. He rated Tesla as "outperform" with a target price of $ 411.
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