NEW YORK (TheStreet) -- Shares of Tesla Motors Inc. (TSLA) are up 2.08% to $219.88 as the carmaker picks up the pace of overseas deliveries as part of a plan to increase production by over 50% in 2014. Bloomberg reports.
Now, a month after starting Model S deliveries in the U.K., its main electric sedan is being considered for purchase by the government there to transport officials under a program to buy more than 150 ultra-low emission vehicles.
Deliveries of right-hand-drive Teslas to the U.K began last month and the company inaugurated the start of shipments to China in April, Bloomberg noted.
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TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins."