UPDAT: Baird Lifts Tesla 2020 Price Target After Meeting with Company

Baird sees blue skies ahead for Tesla (NASDAQ: TSLA) after analyst Ben Kallo met with management. Kallo raised his near-term price target from $245 to $275 and 2020 price target to a massive $350 per share. The analyst reiterated his Outperform rating.

Kallo left his meeting with Tesla feeling “incrementally positive” the company could meet 2014 Model S delivery forecasts of 35,000.

The analyst's $350 price target is based on 2020 estimates for Tesla's auto and grid sales and is 50 percent above current price levels.

Shares are up 1.2 percent to $233.80 following the bullish comments.