Tesla (TSLA) Added to Baird's NEGATIVE Fresh Pick List, PT to $360

September 23, 2020 6:11 AM EDT
Get Alerts TSLA Hot Sheet
Price: $617.69 --0%

Rating Summary:
    21 Buy, 22 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 1 | New: 43
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Baird analyst Ben Kallo raised the price target on Tesla (NASDAQ: TSLA) to $360.00 (from $332.00) but maintained a Neutral rating after attending the company's Battery Day which highlighted breakthroughs in technology and manufacturing that will likely aid the company's P&L in ~18 months. While the company is clearly accomplishing impressive things, the current valuation already reflects the significant disruption potential leading the analyst to highlight the near term trading opportunity.

The analyst stated "With the Battery Day completed, we believe there is a lack of upcoming
catalysts and are cautious about demand given the recessionary environment, particularly given TSLA’s premium valuation. We are naming TSLA a negative “Fresh Pick,” which we use to denote near-term trade opportunities for stocks".

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Robert W Baird, Tesla, Ben Kallo