Tesla Inc.’s price target was lifted to $411 per share from $368 on Monday by Baird, whose analysts advised against shorting shares of the company ahead of the Model 3 production ramp. Reiterating an outperform rating on the electric-car maker, senior research analyst Ben Kallo had this to say: “In our our opinion, TSLA is not a good short headed into the Model 3 ramp as we continue to believe upcoming catalysts will drive shares higher, and TSLA remains a top pick for 2017.” He said they expect “strong demand” for Tesla’s mass-market Model 3, whose production ramp up is expected this fall, and that stock performance following its introduction could mirror that of which was seen for the Model S. “Importantly, a positive reception to the Model 3 from early customers could significantly increase the value of the Tesla Brand and further accelerate demand,” said Kallo. Tesla shares closed up 0.7% on Friday to $357.87.
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