Tesla (TSLA) Demand Concerns Are Overblown, Baird Says Buy Ahead Of Q1 Delivery Release
- Wall Street ends volatile week sharply higher
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
- Coinbase (COIN) To Add Dogecoin Trading in the Next Few Weeks
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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.
Shares of Tesla closed at $316.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Says Buy Tesla (TSLA) on Weakness, Reiterates Overweight
- Turquoise Hill Resources (TRQ:CN) (TRQ) PT Lowered to Cdn$30 at Scotiabank
- NICE Systems Ltd (NICE) Beat and Raise Driven by Strong Cloud Revenue, PT Cut to $300 at Jefferies But Reit Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Related EntitiesRobert W Baird, Tesla, Ben Kallo, Model 3
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!