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The Zacks Analyst Blog Highlights: Tesla

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For Immediate Release

Chicago, IL – August 8, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla (TSLA - Free Report) .

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Tuesday’s Analyst Blog:

Tesla Stock Pops As Musk's Account Tweets Plan To Take Company Private

Shares of Tesla surged about 6% in early afternoon trading hours Tuesday after Elon Musk, the polarizing CEO of the electric car giant, tweeted that he was considering taking the company private.

Musk’s tweet, which was sent in late morning hours Tuesday, implies a take-private price of $420 per share for Tesla.

Musk has yet to follow up the tweet with more details. The tweet was posted on his verified account, although no additional confirmation has been made.

A deal to take Tesla private at $420 per share would mark a nearly 23% premium to the stock’s most-recent closing price.

Shares of the automaker were trading relatively flat on the day ahead of the tweet. Shortly afterwards, Tesla popped to an intraday high of $371.15 per share, up about 8.5% from Tuesday’s close. By 1:00 pm EDT, the stock had retreated back toward the $360 level.

Tesla shares had surged about 7.4% heading into the day. Last week, the company reported an adjusted quarterly loss of $3.06 per share, which was wider than the Zacks Consensus Estimate of a $2.78 per share loss.

However, investors were excited about the company’s revenue growth and production outlook. Sales in the quarter increased to $4 billion from just $2.8 billion in the prior-year period, and management had positive things to say about production of Tesla’s ever-important Model 3 sedan.

Elon Musk has clashed with bearish analysts in recent months as Tesla has struggled to reach previously-stated goals for Model 3 production. The CEO has also faced public criticism after posting disparaging comments about a diver who assisted in the Thai cave rescue.

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Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.




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