Baird Sees Focus on Tesla (TSLA) Shifting to Margins Now

October 3, 2019 4:21 AM EDT
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Price: $589.72 +3.15%

Rating Summary:
    21 Buy, 21 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
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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."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $243.13 yesterday.

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Robert W Baird, Tesla, Ben Kallo