NEW YORK (TheStreet) -- Shares of Tesla Motors Inc. (TSLA) are slightly higher in pre-market trade as Nevada lawmakers today consider controversial tax breaks estimated at up to $1.3 billion for the electric automaker to build its $5 billion battery factory in the state, Reuters reports.
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Assembly Speaker Marilyn Kirkpatrick promised scrutiny of the legislation, which has drawn criticism from both ends of the political spectrum, at a special session, Reuters said.
"It's exciting that a company such as Tesla has chosen Nevada," said Kirkpatrick, a North Las Vegas Democrat. "But the devil is in the details."
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 good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and generally higher debt management risk."