EV major Tesla (NASDAQ: TSLA) was up in trading after top-rated Baird analyst Ben Kallo assigned a Buy rating to the stock. The analyst highlighted positive prospects for the firm in the second half of the year, including the upcoming Cybertruck launch.
Even as Tesla shares have skidded more than 10% in the past month, Kallo thinks that the impact of the company’s price cuts on its margins will shape Tesla’s narrative in the second half of this year.
According to the analyst, the upcoming ‘potential catalysts’ for the stock include Full Self Driving (FSD) adoption, energy business growth, market expansion, and a possible AI Day.
Kallo has a price target of $300 on the stick, suggesting a 29.7% potential upside at current levels.
Overall, analysts remain sidelined about TSLA stock with a Hold consensus rating based on 10 Buys, 13 Holds, and five Sells.
