Tesla (TSLA) Model Y Production Ramp Should Be Smoother Than Model 3 - Baird

March 15, 2019 7:50 AM EDT
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Baird analyst Ben Kallo reiterated an Outperform rating and $465.00 price target on Tesla (NASDAQ: TSLA) and believes the model Y specs position the company to take share in the hot premium SUV market. The analyst expects a smooth production ramp and believes Model 3 demand is overblown and reiterated his Fresh Pick rating.

The analyst stated "While there is always risk to the production ramp, the Model Y will share a significant portion (~75%) of components with the Model 3 which could mitigate some risk. Early production challenges with the Model 3 were associated with the battery; given the Model Y will rely on the same components, we think the ramp might be smoother".

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 $282.80 yesterday.

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Robert W Baird, Tesla, Ben Kallo, Model 3