Tesla (TSLA): Buy Any Weakness - Baird
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Baird analyst, Ben Kallo, reiterated his Outperform rating on shares of Tesla Motors (NASDAQ: TSLA) but cut estimates to reflect lower absorption from the Model 3, which will impact margins in the current quarter. However, the analyst believes this is widely expected.
The analyst stated "Investors will be focused on current Model 3 production levels and expectations for future cash flow, and despite initial challenges in the Model 3 production ramp, we are confident TSLA will reach its production targets over the intermediate term. We would use any weakness to build positions in the stock".
The firm maintained an Outperform rating and price target of $411.
Shares of Tesla Motors closed at $337.34 yesterday.
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Related EntitiesRobert W Baird, Tesla, Ben Kallo, Model 3
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