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Credit Suisse Hikes Tesla Target To $280 After Delivery Miss, Expects Strong Back-Half Of 2016

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Tesla Motors Inc TSLA reported a slight miss in Q1 volumes, but maintained its full-year guidance. Credit Suisse’s Dan Galves maintained an Outperform rating for the company, while raising the price target from $240 to $280.

Tesla reported its Q1 deliveries at 14,820, short of its 16,000 guidance. The company sold 12,420 Model S and 2,400 Model X vehicles. Tesla indicated that the shortfall had resulted mainly from significant Model...