Baird Reiterates Tesla’s $548 Price Target

Baird analyst Ben Kallo reiterated on December 30, 2025, an ‘Outperform’ rating and $548 price target on Tesla.

“Despite a sluggish start to the year, TSLA has gained 21% YTD and 7% in the last month (vs the S&P 500 up 18% and 1%, respectively) as attention turns to potential catalysts in 2026.

Among these are broader robotaxi rollout, new product launches, and incremental details on Optimus commercialization, as well as non-TSLA items such as a SpaceX IPO.

We want to own TSLA into the new year and continue to view the company as a core holding for our coverage.

We expect 2026 to be a year of several announcements regarding robotaxi service.

These may include expanding into new cities/ geographies, beginning to recognize revenue, and receiving approval to begin operations in China/EU (among others).

Outside of robotaxi, we also expect 2026 to include updates on Optimus production and incremental details on the timeline to commercialization.

Lastly, we expect the launch of the Tesla Semi in higher volumes and continued growth in the Energy business.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.