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Tesla Inc (TSLA) to Stop Selling Cheapest Model S

20 March 2017

"While we are bullish about Tesla's long-term potential, we have several near term concerns, most notably (1) gross margins, as Model 3 and its associated capex ramps up, and (2) Tesla's overall customer experience - which we believe is not strong today - and could be further pressured as the company migrates to selling to a more mass-market consumer". Tesla CEO Elon Musk, already the company's top shareholder, bought 95,420 common shares for about $25 million, the company said in a filing.

Tesla (TSLA) had its price target raised to 240 from 220 on Monday by the brokerage firm Monness Crespi, which maintained a hold rating on the electric-car maker. He estimates Tesla will end 2017 with $1.8 billion in cash. If the underwriters exercise their options, then the total proceeds of the sale will net $1.38B.

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A similar situation is expected to happen with the Model 3, which should in turn eclipse the Model S/X fleet. The firm's market cap is $42.08 billion.

Some analysts deemed the smaller deal a sign of confidence in the Model 3 rollout, while others were still concerned about Tesla's spending and whether the company would have to tap the capital markets again if the vehicle launch doesn't go as planned. But since the Model 3 is nearly here, it seems Tesla thinks the 60 has served its goal, and needs to make room. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Innovation can be the key to future big-winning stocks.

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The discontinuation of the two 60 cars means the starting price of the Model S will rise from £65,300 to £71,800 next month, and the amount of choice will drop from seven battery pack/powertrain combinations to five. They now have a Dollars 187 price target on the stock. The companys revenue was up 88.2% compared to the same quarter a year ago.

The Model 3 is Tesla's first automobile designed for a mass-market audience, with a retail cost of about $35,000 each. Customers have the option of unlocking the extra battery pack by paying a one time fee to Tesla.

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She's a true INFJ, Sagittarius and Ravenclaw, so basically she's quiet and thinks a lot. Marquez is a senior editor at Autostraddle and a Latina lesbian living in Dallas, Texas.

Tesla Inc (TSLA) to Stop Selling Cheapest Model S