Baird Sees Focus on Tesla (TSLA) Shifting to Margins Now
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Baird analyst Ben Kallo reiterated an Outperform rating and $355.00 price target on Tesla (NASDAQ: TSLA).
THe analyst comments "Record deliveries were roughly in line with our/consensus estimates, but missed elevated whisper numbers following the email leak. We think 2019 volume guidance is still attainable, particularly if Shanghai ramps (lower end of guidance implies 8% sequential growth in Q4), and view continued increases in production rates favorably. The focus will likely shift to profitability (TSLA targets positive GAAP net income in Q3); while there are many variables (including leasing) which could impact profits, we also note there are several levers to drive margin expansion."
Shares of Tesla closed at $243.13 yesterday.
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Related EntitiesRobert W Baird, Tesla, Ben Kallo
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