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UPDAT: Baird Lifts Tesla 2020 Price Target After Meeting with Company

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Baird sees blue skies ahead for Tesla (NASDAQ: TSLA) after analyst Ben Kallo met with management. Kallo raised his near-term price target from $245 to $275 and 2020 price target to a massive $350 per share. The analyst reiterated his Outperform rating.

Kallo left his meeting with Tesla feeling “incrementally positive” the company could meet 2014 Model S delivery forecasts of 35,000.

The analyst's $350 price target is based on 2020 estimates for Tesla's auto and grid sales and is 50 percent above current price levels.

Shares are up 1.2 percent to $233.80 following the bullish comments.

Latest Ratings for TSLA

DateFirmActionFromTo
Sep 2014ISI GroupInitiates Coverage onBuy
Sep 2014FBN SecuritiesInitiates Coverage onOutperform
Sep 2014Stifel NicolausUpgradesNeutralBuy

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Baird Ben KalloAnalyst Color Reiteration Analyst Ratings

 

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