Baird Reiterates Bullish View on Tesla (TSLA) Following SolarCity (SCTY) Merger Approval
- Oil steady around $50 on doubts over OPEC output cuts
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- Universal Health (UHS) Disputes and Denies Conclusions in BuzzFeed Article
- Perrigo (PRGO) to Restructure BCH Omega Pharma Belgium Business; Will Terminate EuroGenerics Agreement
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Baird analyst Ben Kallo reiterated an Outperform rating and $3387 price target on Tesla Motors (NASDAQ: TSLA) after shareholders voted to approve the SolarCity (NASDAQ: SCTY) acquisition with an 85% vote.
Kallo commented, "Although the acquisition was controversial, we see potential long-term benefits as TSLA has identified growth opportunities (solar roof/ complete energy systems) and SCTY is shifting toward cash sales and to become less reliant on capital markets. We believe this removes an overhang and should allow investors to look forward to important growth drivers, including the ramp of the Gigafactory and Model 3. We expect shares to trade higher as TSLA executes."
Shares of Tesla Motors closed at $188.66 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) Judge reserves ruling on investor's record request - Bloomberg
- Nu Skin (NUS) PT Trimmed to $55 at Jefferies Following Management Changes as Guidance Can Weigh
- Mizuho Securities Remains Sidelined on Fitbit (FIT) Following Announced Acquisition and Partnership
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRobert W Baird, Tesla, Definitive Agreement, Ben Kallo, Model 3
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!