Tesla Motors Inc (NASDAQ:TSLA) has received a rating as an “outperform” stock with a $275 price target, said Baird today. Baird said that it believes the recent pullback already has weak results priced in.
“We are expecting 6,400 deliveries and a solid production number, but are more cautious heading into what will likely be an uneventful quarter. That said, we believe TSLA is well positioned for positive results in Q2 through Q4, and remain bullish in the longer term due to several upcoming catalysts,” stated analysts Ben Kallo and Tyler Frank in the report.
Upcoming catalysts include the gigafactory site selection and updates on Tesla’s second production line.