Baird analyst Ben Kallo reiterated his buy rating on Tesla Inc.’s stock TSLA on Tuesday and said he likes it as Best Pick for the year. “With that said, we think sentiment headed into the quarter is negative and stock likely trades down into the quarter which should be low point for gross margins,” the analyst wrote in a note to clients. “Although we are cautious into the print, we think it will be a “derisking” event and buyers are likely to step in following results.
“With that said, we think sentiment headed into the quarter is negative and stock likely trades down into the quarter which should be low point for gross margins,” the analyst wrote in a note to clients. “Although we are cautious into the print, we think it will be a “derisking” event and buyers are likely to step in following results.” For now, Baird is advising investors to wait until closer to second-quarter deliveries which are expected by July 3 to buy more shares.