Baird Adjusts Tesla Rating to Neutral Amid Market Speculation

According to Odaily, investment bank Baird has revised its rating for Tesla (TSLA.O) from 'outperform' to 'neutral,' setting a target price of $320. Despite Tesla's weak quarterly performance, its stock has risen by 24%, compared to the S&P 500's 13% increase. This growth is partly attributed to excitement surrounding the upcoming launch of affordable vehicles and Robotaxi in June. However, Baird believes that Elon Musk's optimism regarding Robotaxi may be overstated, and much of the hype has already been absorbed. Additionally, Musk's relationship with U.S. President Donald Trump adds to the uncertainty. In the long term, Tesla remains a strong option, but Baird currently maintains a cautious stance.