Tesla Motors (TSLA) Bullish View Reiterated at Baird; Remains Top Pick
Baird analyst Ben Kallo reiterated an Outperform rating and $368 price target on Tesla Motors (NASDAQ: TSLA) following strong results and continues to highlight the stock as a top pick for 2017.
Kallo commented, "Q2 results were better than we feared when we previewed the quarter. Importantly, cash balance, demand commentary for all vehicles, and Model 3 margin ramp expectations were positive. Although TSLA is now in “production hell,” we recommend investors own shares into the Model 3 ramp, which should be a several-month period and coincide with positive catalysts as cars are delivered and reviewed, and TSLA shows investors it can “make money” on the Model 3."
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Shares of Tesla Motors closed at $325.89 yesterday.