Tesla (TSLA): Buy Any Weakness - Baird

October 25, 2017 6:23 AM EDT
Get Alerts TSLA Hot Sheet
Price: $739.78 +0.13%

Rating Summary:
    21 Buy, 21 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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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.

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

Shares of Tesla Motors closed at $337.34 yesterday.

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Robert W Baird, Tesla, Ben Kallo, Model 3