Market Overview

Tesla Shares Slipping on Baird Downgrade

Share:
Related TSLA
The 'Burning Man' Investment Plan
Trading Pro Discusses The 'Honey Badger' Stock He Just Bought
Soccer Mom Sticker Shock: Tesla Prices Model X At $133,200 And Up (Seeking Alpha)

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
Aug 2015Morgan StanleyMaintainsOverweight
Jul 2015UBSDowngradesNeutralSell
Jul 2015Pacific CrestDowngradesOverweight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

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

 

Related Articles (TSLA)

Get Benzinga's Newsletters