Tesla Motors Inc (TSLA) Valuation ‘Justified’, Says Baird

Tesla Motors Inc (TSLA) Valuation ‘Justified’, Says Baird
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Tesla Motors Inc (TSLA) revelation on Friday helped to lower the concern among the investors, and may push the stock going forward, according to Ben Kallo, a senior research analyst at Robert W. Baird. On the day, the EV makers stock closed up 3% at $274.

Many catalysts for Tesla

Talking at a CNBC “Closing Bell,” Kallo said, “I think you bet on Elon Musk,” adding the company’s valuation is “justified.”

On Friday, Tesla announced an upgrade to the Model S line including a new battery, price point and speed options. This, according to Kallo, will ease the concerns over the cars driving range and affordability.

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