After a Goldman Sachs market analyst’s comments sent Tesla Motors Inc. stock down $18.21 to $109.05 a share on July 16, the buoyant electric car maker steadily regained upward movement, capped by a positive outlook Friday from a Deutsche Bank analyst as the Palo Alto-based auto firm's stock jumped $5.32 to $129.39 a share, notes Grumpy Editor.
That put Tesla $2.13 above its July 15 close of $127.26, a day before Goldman Sachs analyst Patrick Archambault set a Tesla price target of $84 a share, sending the auto maker’s stock south. (Interestingly, two months earlier Archambault set a price target of $61.)
On Friday, Deutsche Bank analyst Dan Galves upgraded Tesla, saying the electric car maker “has taken a very large step ahead of the competition” and raised his rating to “buy” from “hold.” He boosted his price target to $160 --- about double that of Goldman Sachs analyst Archambault two weeks ago.
Despite a down market today, Tesla jumped to a new high, up $5.23 to $134.62.
Zig-zag comments with opposing analysts’ views are what trigger gray hairs on business writers and investors.
Deutsche’s Galves told an Associated Press reporter: "Several unbiased third parties (are) concluding that Tesla's first mass-produced vehicle is the best car they've ever tested. In the eyes of many consumers and critics, (Tesla has) designed a superior car by taking advantage of the architectural attributes of an E-vehicle (such as battery placement underneath the floor of the vehicle), and using this to (the company’s) advantage (i.e. better handling, quietness, storage, interior volume)."
KC Star sees ‘gusto’ in Obama speech
While many in the media cited President Barack Obama’s on-the-road speeches at two college campuses last week as recycled material --- although it included new remarks on “phony scandals” (such as Benghazi, IRS, and NSA spying) --- the Kansas City Star saw some nuggets that inspired an editorial.
The Star noted glowing pluses in the president’s comments for middle class folks.
“Obama left the naysayers behind and pledged to spend the rest of his time in office fighting to improve the lives of the middle class,” read the Star editorial. “He did so with gusto.”
The editorial in the McClatchy Co.-owned newspaper also beamed, “His template is consistent, reasonable and refreshingly positive: access to quality education from preschool to college, infrastructure upgrades, good paying jobs, home ownership, secure retirements and affordable health care.”
The Star’s daily circulation, as of a March 31 tally by Alliance for Audited Media, was 189,283. That compares with weekday circulation of 206,441 in September, 2010.
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Political affiliations usually are indicated at first mention of name.