Tesla (TSLA) Demand Concerns Are Overblown, Baird Says Buy Ahead Of Q1 Delivery Release

February 28, 2019 6:06 AM EST
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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 his Outperform rating on shares of Tesla (NASDAQ: TSLA) and believes that weak Q1 deliveries are 1) due to timing and 2) priced into the stock. Investor skepticism on demand is high and Baird thinks this can serve as a catalyst to improve sentiment and drive shares higher in the coming weeks.

The analyst stated "While it is unclear what TSLA may announce today ($35k Model 3 introduction, autonomy update, or something entirely different), we think it could serve as a catalyst to improve sentiment and drive shares higher. Regardless, we believe demand concerns are overblown and expect the stock to trade higher into the Q1 delivery release". No change to the price target of $465.

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 $316.81 yesterday.

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Robert W Baird, Tesla, Ben Kallo, Model 3