- As expected, Wall Street analysts are scrambling after Tesla (TSLA -1.8%) announced that Elon Musk and the board pulled the plug on exploring go-private options.
- Analysts on TSLA stock: Morgan Stanley (NYSE:MS) analyst Adam Jonas is back in the game with an Equal-weight rating. Nomura lowers its price target to $400 from $450. Meanwhile, RBC Capital keeps a Sector Perform rating and price target of $315 in place, although the firm says the whole episode from start to finish leaves the bear camp with better talking points than the bulls.
- Taking a peek at Bloomberg's analyst ratings scorecard shows that sentiment is about evenly distributed as can be — with 11 Buy-equivalent ratings, 10 Sell-equivalent ratings and 11 Hold-equivalent on the books. So much for the theory that Wall Street is ganging up in heavy numbers to one side or the other.
- Analysts on TSLA bonds: Outside of the view of the battle over Tesla's share price there are some number crunchers looking at Tesla's bond issues.
- CreditSights is negative on the implications of the last several weeks for the Tesla debt issues: "Tesla's announcement to stay public at least removes some uncertainty for now, but for bondholders the equity-like risk reward symmetry is still not fully reflected in yields despite recent weakness. We shift back to underperform."
- Moody's called Tesla's private push a "credit negative" event in a note on August 9 and has a Negative outlook overall. The ratings agency is likely to update again on the EV automaker after the latest developments.
- Now read: Key Takeaways From Tesla's Take-Private Drama And Their Value
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