Tesla Motors (TSLA): Baird Positive on Equity Raise

Baird analyst, Ben Kallo, sees Tesla's (NASDAQ: TSLA) capital raise as positive because it removes the largest objection for new buyers and the "loudest" short story, while providing substantial growth capital. No change to Outperform rating or $338 PT.

TSLA announced it intends to sell ~6.8M shares with an additional ~2.8M shares being offered by Elon Musk in an equity offering expected to raise ~$1.4B-$1.7B (dependent on the underwriter option). TSLA will use proceeds to ramp the Model III to high volume production by 2H:17.

For an analyst ratings summary and ratings history on Tesla Motors click here. For more ratings news on Tesla Motors click here.

Shares of Tesla Motors closed at $211.17 yesterday.

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