Tesla (TSLA) Earnings Focus Should be on Factory Restarts - Baird

April 24, 2020 7:04 AM EDT
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Price: $589.72 +3.15%

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Baird analyst Ben Kallo reiterated a Neutral rating and $525.00 price target on Tesla (NASDAQ: TSLA) ahead of Q1 earnings noting that there is a possibility that the recession helps TSLA extend its EV advantage over other OEMs who may be forced to delay/halt electrification initiatives.

The analyst stated "TSLA previously announced it would temporarily stop production at its Fremont and New York factories in response to the COVID-19 outbreak. We will look for updated commentary on a timeline for restarting production, but do think the company is positioned to manage ~2 quarters of downtime".

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 $710.00 yesterday.

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Robert W Baird, Tesla, Earnings, Ben Kallo