Tesla able to maintain industry lead despite price cuts, says Baird

Baird said Tesla’s US price cuts continue to make headlines with Tesla margins and macro uncertainty in focus. Despite this second round of US price cuts in a short time frame, we continue to believe Tesla will be able to maintain industry leading operating margins and is in the best position among auto peers to weather economic headwinds. Baird maintains its Outperform rating and $252 price target on Tesla shares.