3 Auto Stocks Going Places: Toyota’s Global Sales Slide, Ford Counts on Russia For European Revival, and Tesla Rides on Upgrade
Toyota Motor Corp. (NYSE:TM): Despite significant sales declines in both Japan and India (down 18.3 percent and 13 percent, respectively), Toyota shares are up slightly. In its native country, auto sales have slumped since last September, when the government-issued subsidies on alternative energy expired.
Ford Motor Co. (NYSE:F): Weak sales in Europe have taken a significant toll on numerous automakers, but for Ford at least, the company is down, but not out. The automaker is planning to expand its operations in Russia, to help make up for the losses suffered elsewhere. Two 4X4s will be produced in the country, and the company is predicting that sales will rise in the second half of this year, as a result.
Tesla Motors (NASDAQ:TSLA): In light of potential upside to the company’s sales and production, Jefferies has raised its price target on Tesla to $130 from $70, as it believes there is likely upside to Tesla’s prior Q2 guidance for deliveries of 4,500 units as well as its 2013 guidance of 21,000 units. The firm keeps a Buy rating on the shares. Separately, Tesla is within reach of the 100,000 votes needed for the petition to urge the Obama administration to allow the company to sell directly to consumers in all states. The company needs to arrive at that number by Friday.
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