Bank of America analyst John Murphy lowered his price target on Tesla (TSLA.US) to $700 from $900. He said that the target price of $700 is based on the ratio of forecast 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 Fremont and Gigafactories factories, but the company may not be able to easily raise low-cost capital through the stock market to support its expansion of production capacity at present, and he also...
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