"Tesla ( NASDAQ:TSLA) received a bullish nod from Baird this week, with the firm upgrading the stock to "Outperform" on expectations that the company is positioned to lead in what it calls the "physical AI" era. Analyst Ben Kallo also raised Tesla's price target to $548 from $320, noting that despite muted quarterly results, shares have gained 24% in the past month, outpacing the S&P 500's 3% rise."
"Relatively muted stock reactions following a series of less-than-stellar quarters and investor inbounds regarding long-term initiatives lead us to believe focus has increasingly shifted to the future for TSLA. We now expect shares to 'Outperform' as TSLA is increasingly viewed as the leader in physical AI," the analyst wrote in his note. Kallo also pointed to Tesla's ambitious roadmap as a key reason for the upgrade, as well as the company's new proposed compensation plan for CEO Elon Musk."
Baird upgraded Tesla to Outperform and raised its price target to $548 from $320. Shares have gained 24% over the past month, outpacing the S&P 500 despite muted quarterly results. Baird highlighted Tesla's positioning to lead in a so-called "physical AI" era and cited the company's ambitious roadmap. A proposed CEO compensation plan ties rewards to milestones including 20 million vehicles annually, deployment of 1 million robots and 1 million robotaxis, and 10 million Full Self-Driving subscriptions. Baird's scenario analysis projects a minimum-case valuation above $5.5 trillion by 2035 with upside to $12 trillion.
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