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Why Tesla (TSLA) Could Be Positioned for a Surge?

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Tesla Motors, Inc. (TSLA - Free Report) is an electric vehicle manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TSLA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Tesla could be a solid choice for investors.

Current Quarter Estimates for TSLA

In the past 30 days, the trend has been pretty favorable for Tesla, with estimates narrowing from a loss of $1.12 a share 30 days ago, to a loss of 60 cents today, a move of 46.4%.

Current Year Estimates for TSLA

Meanwhile, Tesla’s current year figures are also looking quite promising, as the consensus estimate trend has seen a boost for this time frame, narrowing from a loss of $2.67 per share 30 days ago to a loss of $2.21 per share today, an increase of 17.2%.

Bottom Line

The stock has also started to move higher lately, adding 5.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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