Bank of America analyst John Murphy lowered his Tesla (TSLA.US) price target to $700 from $900. He said that the target price of $700 is based on the forecast ratio of enterprise value to sales and the ratio of enterprise value to EBITDA, with forecast values of 15X and 89X respectively. Murphy believes that Tesla (TSLA.US) wants to increase production at its Fremont and Gigafactories factories, but the company may not be able to easily raise low-cost capital through the stock market to support its expanded capacity at this time, and he also...
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