NEW YORK (TheStreet) -- Tesla (TSLA) has been reiterated as an "outperform" stock with a $275 price target, Baird said Monday. The firm said it believes recent pullback already has weak results priced in.
"We are expecting 6,400 deliveries and a solid production number, but are more cautious heading into what will likely be an uneventful quarter. That said, we believe TSLA is well positioned for positive results in Q2 through Q4, and remain bullish in the longer term due to several upcoming catalysts," wrote analysts Ben Kallo and Tyler Frank in the report.
The firm said upcoming catalysts include its gigafactory site selection, partner announcements and updates on Tesla's second production line.
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Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."