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Report: TSLA to Unveil 3.5B Nevada Plant Plans

EV maker Tesla (NASDAQ:TSLA) is planning a production facility in Nevada for $3.5 billion, reports the Nevada Independent.

The company is planning to unveil plans today for the all-electric semi-trucks. Separately, Elon Musk has testified that he had financial support to take the company private in 2018 and had met officials from the Public Investment Fund of Saudi Arabia.

Additionally, Tesla is slated to announce its fourth quarter numbers tomorrow.  Analysts expect Tesla to deliver an EPS of $1.15 on a top line of $24.24 billion. In the year-ago period, Tesla had delivered an EPS of $0.85 versus the Street’s expectations of $0.79.

While shares of the company have dropped nearly 53% over the past year, analysts still see a substantial 30.31% potential upside in the stock. The upside is based on a Moderate Buy consensus rating and an accompanying average price target of $187.32.

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