Baird Keeps ‘Neutral’ Rating on Tesla

Baird analyst Ben Kallo reiterated on September 5, 2025, a ‘Neutral’ rating and $320 on Tesla.

“Big dreams for the future.

This week the TSLA board unveiled a new pay package for Musk highlighted by lofty targets across all businesses and corresponding milestones which, if achieved, would result in a bonus of $1T.

TSLA also unveiled the next step in its Master Plan outlining a pathway to sustainable abundance.

Both the incentive package and Master Plan will likely be central pieces of the shareholder meeting on November 6 and we expect Musk will discuss longer-term opportunities.

That said, we maintain our cautious stance near term.”

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