According to Golden Finance, well-known investment bank Baird recently adjusted its rating on Tesla (TSLA.O), lowering it from “overweight” to “neutral”, and set its target price at $320.
Despite Tesla’s relatively weak performance in the past quarter, its share price rose by 24% against the trend, while the S&P 500 index only increased by 13% during the same period. This phenomenon is mainly attributed to the market’s high expectations for Tesla’s upcoming budget car and Robotaxi in June. However, Baird believes that Musk may be overly optimistic about the launch time and market performance of Robotaxi. Currently, many of the hype elements surrounding this project in the market have been gradually digested. In addition, the relationship between Musk and Trump has also added uncertainties to Tesla’s development.
However, Baird also pointed out that from a long-term perspective, Tesla, with its technological accumulation and market position in the electric vehicle and related fields, remains a company with strong development potential. Given the current various factors, the bank has decided to adopt a wait-and-see attitude towards Tesla for now.
Related Topics：
