Baird Reiterates Outperform Rating & $368 PT on Tesla (TSLA); 'We Remain Buyers with Catalysts Upcoming'

Baird reiterates Outperform rating and $368 price target on Tesla Motors (NASDAQ: TSLA), as the firm hosted meetings with management.

Analyst Ben Kallo notes a reinforced confidence in the company's position, remaining at the forefront of innovation in the auto industry, citing a focus in three areas 1) electrification 2) manufacturing and 3) autonomy, as management continues to ramp Model 3 production, targeting positive gross margins in fourth quarter 2017.

While investors remain focused on the Model 3 production, the Baird analyst highlights energy storage opportunity as a very underappreciated opportunity, suggesting the company should be able to gain share in the growing energy storage market. Furthermore, TSLA management suggests the company can produce battery pack at roughly half the cost of competitors.

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 $369.80 yesterday.

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