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Tesla TSLA Stock Pick 2017

Tesla (TSLA) top stock pick 2017 – StockTipsGuru.com


Tesla (TSLA) top stock pick for 2017, says Baird analyst – energy storage business is not priced into the stock as Model 3 could exceed expectations.

Ben Kallo, analyst at Baird has named Tesla Motors (NASDAQ: TSLA) his top pick for 2017 offering a price target of $338.

“We think the ramp of Tesla Energy and Model 3 production could exceed expectations during 2017, and believe the opportunity is not currently reflected in share prices,” Kallo said.

The analysts does not think Tesla’s energy storage business and the growth opportunity is reflected in the share price. “We believe TSLA battery sales are accelerating, and we should see additional benefits from the battery production ramp coinciding with the launch of the Model 3,” he reiterated. “We recommend accumulating shares ahead of additional details being released about TSLA’s current battery costs and density metrics, and believe the upcoming Gigafactory tour on January 4 will be a positive catalyst for the stock.”

Powerwall 2 provides a competitive pricing advantage per kWh which should allow TSLA to continue to gain market share for small businesses and homes, the analyst said.

Kallo thinks the stock will make new highs going into 2017 and does not believe the Q4 delivery number, expected today (Jan. 3) will be an overhang.

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