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Tesla Shares Slipping on Baird Downgrade

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Early Wednesday morning Baird downgraded Tesla (NASDAQ: TSLA) from Outperform to a Neutral rating, while maintaining its $187 price target.

While the upshot of the report was bearish due to its nature as a downgrade, the color stated that Baird is still bullish in the long term on Tesla, but sees a slowdown of price appreciation in the near future.

Analyst Ben Kallo attributes this slowdown to investors stepping back after the huge rally and waiting for the company's next move. Kallo also stated that he believes the innovation premium for the company's breakthrough products is now fully priced into the stock.

Following the report, Tesla shares traded down 1.78 percent to $189.57 in premarket trading

Latest Ratings for TSLA

DateFirmActionFromTo
Jun 2016Argus ResearchDowngradesBuyHold
Jun 2016Standpoint ResearchUpgradesSellHold
Jun 2016Morgan StanleyDowngradesOverweightEqual-weight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Ben Kallo RW BairdAnalyst Color Downgrades Analyst Ratings

 

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