Sanford Bernstein is joining the Tesla party, initiating coverage with a target price of $250, placing the bank's analysts in the middle of the pack as far the Tesla bulls go and establishing a benchmark that's just a few bucks above where the stock is now trading.
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A Wall Street firm is comparing Tesla to Apple, Netflix, and Amazon — but it couldn't be more wrong (TSLA)
Sanford Bernstein is joining the Tesla party, initiating coverage with a target price of $250.
The Tesla Model 3.
The more Tesla coverage the merrier, but Bernstein isn't off to a promising start.
The key problem is that it's making a mistake that everybody else on Wall Street made two or three years ago, back when Tesla was just starting to build and sell the Model S sedan.
This is from note (via StreetInsider.com):
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