Robert W. Baird reiterated its existing “Buy”rating for TSLA shares in a note issued to investors. That compares to a “Neutral” rating for TSLA stock from UBS (UBS) analysts, who have set a $230 price target for TSLA stock. Last month, Wedbush cut their price target for TSLA stock to $275 a share, Zolmax notes.
Despite the vote of confidence from Robert W. Baird, TSLA stock sank modestly in Monday morning trading. Tesla stock has surged more than 400% over the past year. Tesla stock closed at $212.23 a share on Friday.
TSLA has been battling automotive dealership association lobbyists to gain permission to sell its vehicles directly to consumers in a number of states. It has scored recent direct-sales victories in Arizona and Ohio, persuading state lawmakers to carve exemptions into laws mandating vehicle sales through in depended dealers.
However, last month New Jersey ruled that Tesla cannot sell its pricey electric cars through its own sales locations in the Garden State.
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