We wouldn’t be shocked to see Tesla (TLSA) back above $1,000.
After posting its best quarterly profit to date, and with hopes of selling a half million cars this year, the stock is up again.
Former TSLA bears at Baird even just admitted they were “too early” in downgrading the stock earlier this year, as noted by MarketWatch. Nowadays, ““Clearly incorrect, we are now upgrading share as we think TSLA has the substantial access and ability to deploy capital, and has multiple ways to drive substantial revenue growth.”
“Tesla’s competitive moat over peers is substantial (and growing, enabled buy rapid capital deployment) and we think it is unlikely traditional OEMs [original equipment manufacturers] will be able to effectively compete over time,” added Baird analysts.
The firm also says Tesla is a “must own” stock for investors.