Baird Reiterates Outperform on Tesla, $522 Price Target

Baird analyst Ben Kallo reiterated an Outperform rating and $522.00 price target on Tesla (NASDAQ: TSLA).

“Strong Q2 deliveries and Energy deployments return to y/y growth – reiterate Outperform rating. TSLA reported Q2 deliveries which beat our/consensus estimates by a wide margin and grew ~25% y/y.

Energy deployments of 13.5 GWh increased ~41% y/y and were a positive from the release after a lower than estimated Q1 (acknowledging deployments can be lumpy).

We are updating our model to reflect the Q2 deliveries figure and our positive outlook is unchanged.

TSLA will report full Q2 results after the close on Wednesday, July 22.”

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