Tesla (TSLA) Model Y Production Ramp Should Be Smoother Than Model 3 - Baird
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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".
Shares of Tesla closed at $282.80 yesterday.
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Related EntitiesRobert W Baird, Tesla, Ben Kallo, Model 3
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