Today’s Research Reports on Stocks to Watch: Tesla and Yelp

NEW YORK, NY / ACCESSWIRE / June 7, 2018 / Shares of Tesla saw its best gaining day since November of 2015 yesterday after renewed confidence in CEO Elon Musk was revealed and after the company said it was planning to build gigafactories in China and Europe. Shares of Yelp weren’t as lucky in Wednesday trading, closing the day down over 5% after a downgrade from KeyBanc Capital Markets.

RDI Initiates Coverage on:

Tesla, Inc.
https://www.rdinvesting.com/report/?ticker=TSLA

Yelp Inc.
https://www.rdinvesting.com/report/?ticker=YELP

Tesla, Inc. shares were gaining speed in Wednesday trading, closing the day up almost 10% on high volume. The electric vehicle maker got a boost in its share price as Wall Street reacted to the confidence investors have in Tesla’s CEO. It was earlier in the week that shareholders approved all company proposals at Tesla’s annual meeting. Calls were also ignored to remove CEO Musk’s chairman role. Musk has said that the company will “quite likely” hit its goal of producing 5,000 Model 3 sedans by the end of this month. Musk also announced plans to build Gigafactories in China and Europe and said Nevada Gigafactory is about one-third of its planned size and “will be, by far, the biggest building in the world.” According to analysts at Baird, the company “will be able to achieve sustainable operating cash flow and operating profit in the intermediate-term, which would be a significant catalyst.” Baird has a “buy” equivalent rating on the stock and a $411 price target. Yesterday’s gain was the biggest percentage gain for the company since November of 2015.

Access RDI’s Tesla, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=TSLA

Yelp Inc. shares closed down a little over 5% on Wednesday with about 3.2 million shares traded. The review site saw losses after KeyBanc Capital Markets analyst Brad Erickson downgraded shares from “overweight” to “sector weight.” He noted, “While Yelp’s franchise generally remains healthy, we see signs of weakening customer engagement evolving on the margin, which typically don’t correlate to higher value in our proprietary rubric for evaluating internet marketplaces.” He also added, “While higher churn is a byproduct of the new no-contract term offering, we are concerned that we’re already hearing a clear lack of commitment and indifference toward remaining on Yelp from recently added new customers.” In regards to Yelp’s core advertising business, the firm said it “remains a likely growth engine for the company for years to come as our checks over the past several months have indicated a clear appetite from the home service provider channel for these higher-cost, higher-conversion leads.”

Access RDI’s Yelp Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=YELP

Our Actionable Research on Tesla, Inc. (NASDAQ: TSLA) and Yelp Inc. (NYSE: YELP) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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