$Tesla(TSLA.US)Tesla's profitability and cash flow improved in the third quarter, but several drivers behind these results are unsustainable. These include the so-called "carbon credit" revenue from selling emissions credits, as well as unusually high working capital gains.
As a result, Brinkman maintains his underweight rating on Tesla. He raised Tesla's target price from $130 to $135, a 3.8% increase, but the new target price is still 36.8% below Tesla's closing price on Wednesday, implying he expects Tesla's stock to fall nearly 37% from Wednesday's level.
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