Baird talks up Tesla again

|By:, SA News Editor

Robert W. Baird lifts its price target on Tesla (NASDAQ:TSLA) to $465 from $411 on what it sees as positive catalysts for the EV company ahead amid a changing narrative.

"The narrative on TSLA, particularly in the middle of 2018, was as negative as we have experienced in our coverage, but we believe sentiment will continue to improve as the company proves it can be self-supportive, which should drive sustained share appreciation," reasons Kallo "We do not believe the strong Q3 results were a 'flash in the pan' and think TSLA could maintain profitability," he adds.

Shares of Tesla are up 1.26% in premarket action to $370.95 vs. a 52-week trading range of $244.59 to $387.46.

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