Tesla Larger Than Expected Loss But Cuts Cap Ex, Reaffirms Delivery Guidance

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[b]Piper Jaffray’s Alexander Potter reiterated overweight rating cut price target to $368 from $398[/b]

Describing forward-looking metrics as “all trending in the right direction.”

On the transition of the company’s chief technology officer JB Straubel to a senior adviser role:

Straubel is “probably the second-most important person at Tesla, “and even though he is retaining “adviser” status, his departure is nonetheless likely to rattle investors. He offered no explanation, but his amicable mood didn’t suggest dissatisfaction of any kind.”