Analyst jokes Musk will make the idea to Mars before Tesla is usually profitable

the idea appears even international analysts are poking fun at Tesla’s Elon Musk.

German bank Nord/LB initiated coverage of electric car maker not only which has a sell rating, although with quips doing fun of the company’s top executive.

“You have to ask yourself what will happen first: in which Elon Musk will fly to Mars with SpaceX, or in which he will finally operate Tesla inside black,” joked analyst Frank Schwope on Tuesday, according to a translation of the note, which was written in German. “We consider the idea a big mistake in which Tesla as well as Elon Musk do not concentrate on a few important things, although instead appear to do everything a little bit, although nothing all the way through.”

SpaceX — a private aerospace as well as space transport company — is usually also headed by Musk. in which company has also been doing headlines for its independent ventures into space as well as goals to colonize Mars.

although inside public sphere, one of the problems with Tesla may not be in its innovative character, although rather in its apparent inability to “drill down” on production, according to the analyst. Schwope set a $270 cost target, implying 15 percent downside over the next 12 months.

Shares of Tesla closed up 0.2 percent Tuesday.

Tesla has struggled to convince Wall Street in which the automobile company’s finances our sound while production bottlenecks as well as persistent deficits beleaguer Musk’s innovative goals. Echoing doubts of different Street analysts, Schwope argued in which Tesla isn’t in a position to sell 500,000 cars in 2018 as well as is usually unlikely to operate profitably before 2020.

The company remains a common target of short sellers, who bet in which Tesla shares are destined to fall over the next few months. Though Tesla’s stock remains up nearly 50 percent year to date, the shares have slipped more than 8 percent inside last three months. The company recently unveiled a semi-truck as well as a sporty fresh roadster.

“Tesla stock is usually an extreme bet on the future,” said Schwope. “The share development depends on the transformation of the company coming from a tiny premium a new which has a few-digit sales figures to a mass a new with figures inside six-digit or millions range. “

“We don’t see Tesla as a tough competitor of the established automakers, although rather as a trailblazer in which will push long-established companies to boost their performance.”

The analyst noted in which he views Tesla’s $50 billion market cap as overvalued.

— With reporting by CNBC’s Spencer Kimball.

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