Tesla (TSLA) Does Not Need To Raise Capital, Reit Outperform at Baird

April 25, 2019 8:40 AM EDT
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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 an Outperform rating and $400.00 price target on Tesla (NASDAQ: TSLA) after the company reported Q1 results that missed consensus estimates, but a cash balance that was better than expected while guiding to positive FCF for the rest of the year.

The analyst stated "We do think TSLA should raise capital; while not essential, we believe it would be a positive catalyst and remove an overhang on the stock. Demand will likely remain a focus for bears, though we share management’s constructive view. We remain buyers at current levels and expect shares to move higher with execution on the company’s growth strategy".

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 $256.90 yesterday.

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Robert W Baird, Tesla, Ben Kallo