Tesla (TSLA) Discounting Longer Term Ramifications, Not Just Short Term - Baird

April 6, 2020 7:04 AM EDT
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Price: $589.89 -4.42%

Rating Summary:
    21 Buy, 21 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 23
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Baird analyst Ben Kallo reiterated a Neutral rating and $525.00 price target on Tesla (NASDAQ: TSLA) after analyzing the 2008-2009 recession as a framework to evaluate potential risks to TSLA vehicle demand.

The analyst stated "We think the stock may be underestimating potential longer term ramifications; in 2008 it took ~5 years for peer auto sales to recover to prerecession levels. That said, we do think TSLA could fare better than luxury peers, with new products/geographies driving growth, a potentially widening EV competitive advantage, and OTA updates keeping vehicles fresh".

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 $510.00 yesterday.

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Robert W Baird, Tesla, Ben Kallo