We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla-Panasonic to Manufacture Solar Cells at Buffalo Plant
Read MoreHide Full Article
Tesla Motors, Inc. (TSLA - Free Report) has signed an agreement with Panasonic Corp to produce photovoltaic cells and modules in Buffalo, NY, from the summer of 2017. The companies signed a non-binding letter of intent for the same in October.
Per the agreement, Panasonic will bear the capital expenses needed for the plant in return for a long term purchase commitment by Tesla. The companies plan to increase the production volume of photovoltaic modules at the plant to 1 Gigawatt by 2019. Additionally, the companies will collaborate to develop the next generation of photovoltaic technology at the Fremont, CA plant of Tesla’s subsidiary SolarCity.
Tesla will use the cells and modules produced in the Buffalo plant to make solar panels for its non-solar roof products. The company will also use these cells in various kinds of solar glass tile roofs, when their production starts.
Price Movement
Tesla has been underperforming the Zacks categorized Auto Manufacturers-Domestic industry for most of the year. Year to date, the share price of Tesla lost 11.1% while the industry witnessed a 2.9% gain.
Tesla has been facing production-related issues for a long time, as a result of which it has failed to meet delivery targets in the first two quarters of 2016. This, along with the losses incurred by the company, pulled down its share price. Tesla’s stock was also affected by the announcement of the SolarCity acquisition due to concerns related to the losses of the latter, debts and cash outflow. However, now that the acquisition is completed, investors are expected to shift their focus on Tesla’s growth plans.
Tesla currently carries a Zacks Rank #3 (Hold). Better-ranked auto stocks include Allison Transmission Holdings, Inc. (ALSN - Free Report) and America's Car-Mart Inc. (CRMT - Free Report) .
Allison Transmission has a long-term growth rate projection of 11%. The company carries a Zacks Rank #2 (Buy).
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Tesla-Panasonic to Manufacture Solar Cells at Buffalo Plant
Tesla Motors, Inc. (TSLA - Free Report) has signed an agreement with Panasonic Corp to produce photovoltaic cells and modules in Buffalo, NY, from the summer of 2017. The companies signed a non-binding letter of intent for the same in October.
Per the agreement, Panasonic will bear the capital expenses needed for the plant in return for a long term purchase commitment by Tesla. The companies plan to increase the production volume of photovoltaic modules at the plant to 1 Gigawatt by 2019. Additionally, the companies will collaborate to develop the next generation of photovoltaic technology at the Fremont, CA plant of Tesla’s subsidiary SolarCity.
Tesla will use the cells and modules produced in the Buffalo plant to make solar panels for its non-solar roof products. The company will also use these cells in various kinds of solar glass tile roofs, when their production starts.
Price Movement
Tesla has been underperforming the Zacks categorized Auto Manufacturers-Domestic industry for most of the year. Year to date, the share price of Tesla lost 11.1% while the industry witnessed a 2.9% gain.
Tesla has been facing production-related issues for a long time, as a result of which it has failed to meet delivery targets in the first two quarters of 2016. This, along with the losses incurred by the company, pulled down its share price. Tesla’s stock was also affected by the announcement of the SolarCity acquisition due to concerns related to the losses of the latter, debts and cash outflow. However, now that the acquisition is completed, investors are expected to shift their focus on Tesla’s growth plans.
TESLA MOTORS Price
TESLA MOTORS Price | TESLA MOTORS Quote
Zacks Rank & Key Picks
Tesla currently carries a Zacks Rank #3 (Hold). Better-ranked auto stocks include Allison Transmission Holdings, Inc. (ALSN - Free Report) and America's Car-Mart Inc. (CRMT - Free Report) .
America's Car-Mart has a long-term expected growth rate of 45.5%. It is currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has a long-term growth rate projection of 11%. The company carries a Zacks Rank #2 (Buy).
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>