Robert W. Baird analyst Ben Kallo weighed in today with a favorable report on shares of the electric vehicle giant Tesla Motors Inc (NASDAQ:TSLA), after hosting an investor site visit at the company’s Fremont Factory. The analyst reiterated an Outperform rating on TSLA with a price target of $335, which represents a potential upside of nearly 28% from where the stock is currently trading.
Kallo wrote, “We continue to recommend buying shares at these levels ahead of the Model X launch. We hosted over a dozen investors for a 2.5 hour tour through TSLA’s factory where we visited powertrain production, stamping, and final assembly. We also hosted a short call with Deepak Ahuja, TSLA’s CFO, about his recent announcement of retirement.”
Furthermore, “The factory appeared to be operating at normal pace which we view as positive. Activity at the factory looked normal (busy), which substantiates our view TSLA continues to methodically ramp production to meet its target of 55k deliveries by year end. Additionally, we viewed another example of speedy investment and factory expansion in TSLA’s new paint shop, which was completed in record a breaking time-frame.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ben Kallo has a total average return of 12.8% and a 61.8% success rate. Kallo has a 36.5% average return when recommending TSLA, and is ranked #458 out of 3635 analysts.
Out of the 24 analysts polled by TipRanks, 15 rate Tesla stock a Buy, 5 rate the stock a Hold and 4 recommend to Sell. With a return potential of 4.83%, the stock’s 12-month consensus target price stands at $274.38.