Baird Keeps Neutral on Tesla, $320 Price Target
- Rating
- Hold
- Price target
- $320
- Implied downside
- -6%
- vs $340.47 prior close
Baird analyst Ben Kallo reiterated a Neutral rating and $320 price target on Tesla (NASDAQ: TSLA).
“Our 377.0K delivery estimate is below the FactSet consensus of 392.8K, and we see risk given 1) weakness in third-party data through May and 2) the re-ramping of new Model Y production, which lingered slightly into the quarter.
While deliveries still remain an important piece of the fundamentals, we note that the recent launch of robotaxi and excitement regarding this opportunity will likely take precedence in the near term.
The launch of a more affordable vehicle introduces the risk of a net negative margin impact for 2H25, in our view.”
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Tracking this call
Since this note+10% TSLA $340.47 → $375 (Oct 9) · moving away from the target
This call✓ Target reached on Jun 30, 2025, 5 days after the note.
Firm track recordBaird: 91% of its 11 targets at least a year old were reached within 12 months (#5 of 20 firms); on Tesla, 5 of 6. Accuracy ranking →
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