In our first issue of Foundry Stock Review on October 15th, 2013 we detailed Tesla Motors (TSLA) as a stock on cruise control for the first nine months of 2013, launching from $35 to $194 in record time. During the past month, some negative publicity on two car fires and valuation concerns have caused some skittish investors to head to the sidelines for a pit stop.
Our price target in the next 12 to 18 months for Tesla is considerably higher than current prices near $160. We will keep an eye on earnings to be presented on November 5th. However, we are focused on the next several quarters as there are sure to be some speed bumps, as the company has become high profile in a short period of time. Swings of 10% or more are to be expected short term, but with a one to two year time frame, we will stay focused beyond a single earnings report.
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Foundry Stock Review and its contributors have no positions in Tesla (TSLA) the security detailed in this blog as of 10/31/2013. Periodically, Foundry Stock Review or its contributors may initiate a position in a stock covered in this blog. If we do initiate a position in any security we cover prior to publication, we will disclose the position here in our disclosure. This stock disclosure is not a recommendation to purchase or sell any security.
Foundry Stock Review is an earnings focused investment newsletter. Foundry Stock Review, LLC is not a registered investment advisor and the data contained in this newsletter has been gathered from external sources and is believed to be accurate as of publication. The content of this blog is for information purposes only and is not a solicitation to buy or sell any individual securities. It is important that you consult with your investment advisor and tax advisor before making investment decisions. Past performance is not indicative of future results.