Tesla (NASDAQ:TSLA) pushed higher in early trading on Friday after Baird upgraded the electric vehicle maker to an Outperform rating after having it set at Neutral. The firm expects some near-term choppiness with fundamentals but thinks sentiment has skewed positive.
“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,” highlighted analyst Ben Kallo.
Crucially, Kallo and his team think that Tesla (NASDAQ:TSLA) is increasingly viewed by the investing public as the leader in physical AI. Catalysts seen for Tesla (TSLA) included the next Optimus humanoid robot reveal, robotaxi expansion in the U.S., the rollout of more affordable vehicles, and the upcoming shareholder vote on Elon Musk’s compensation plan.
Shares of Tesla (TSLA) were up 0.9% in premarket trading to $420.43. The EV stock has rallied more than 25% over the last six weeks. The company will issue its Q3 deliveries report in less than two weeks.