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Home / Business / Tesla shares soar following the news of a stock split, analyst Baird maintains a neutral rating and price target

Tesla shares soar following the news of a stock split, analyst Baird maintains a neutral rating and price target



Shares of Tesla Inc. TSLA,
-3.11%
rose 6.1% in pre-market session on Wednesday, after falling 7.7% amid a three-day drop, following the electric carmaker’s announcement of a 5-for-1 share Baird analyst Ben Kallo reiterated the neutral rating he has had on stocks since Jan. 9, while maintaining his price target of $ 1,658, about 21% higher than. Tuesday’s closing price was $ 1,374.39. Kallo wrote in a note to clients: “We believe the stock split is an acknowledgment of the fact that the market is increasingly being influenced by individual investors, including those looking for. The approach to the next generation of transportation. “Overnight stock strength shows investors opting to buy stocks positioned to benefit from the current cycle of upgrades to technology around traffic, renewable energy, and software that enables both. . ”

; Shares have more than tripled (up 228.5%) from the start of the year to Tuesday, while the S&P 500 SPX,
-0.79%
increased to 3.2%.


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