A Baird analyst highlights some positive developments ahead of the EV maker in the second half of the year, including the launch of the Cybertruck.
Tesla Inc.’s stock rose more than 5% on Monday, on track to end a six-day losing streak, as Baird analyst Ben Kallo highlighted some positive developments ahead of the EV maker in the second half of the year, including the launch of the Cybertruck.
Tesla shares TSLA, +5.04% have lost 15% this month, and have been on a mostly downward trajectory after the company’s second-quarter earnings in mid-July.Baird’s Kallo said price cuts and their impact on margins will drive the narrative for the electric-vehicle maker in the second half. “Potential upcoming catalysts for the stock include Cybertruck launch, a wider-scale adoption of [Full Self Driving, Tesla’s suite of advanced driver assistance systems to navigate city streets], continued growth in the energy business, expanding into new markets, and a possible AI Day, among others,” the analyst wrote in a note to clients about Tesla and other companies.
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