NEW YORK (TheStreet) -- Shares of Tesla Motors Inc. (TSLA) are up 1.57% to $268 in pre-market trade after it was reported that the electric automaker will work with China United Network Communications Corp., China's second-largest mobile-phone company, to set up charging points for its vehicles, Bloomberg reports.
Tesla signed an agreement today to build 400 charging points in 120 Chinese cities at China Unicom (CHU) outlets, and the two companies will also build 20 supercharging stations that work as much as 16 times faster, according to Tesla.
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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 robust revenue growth, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: