Tesla Inc (TSLA)

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Baird, after gigafactory tour, says Tesla expansion efforts on track
After touring the company's gigafactory in Reno, Baird analyst Ben Kallo says Tesla's battery cost reduction and capacity expansion efforts are on track. The factory could produce up to 150 gigawatt hours of cells when fully ramped, and improved production processes should continue to drive battery cost reductions, Kallo tells investors in a research note. The analyst sees several near-term catalysts for Tesla shares, including increased Model 3 production, additional Model 3 reviews, Tesla Energy announcements and the semi-truck unveiling planned for October. Kallo continues to view Tesla as a top pick with an Outperform rating and $411 price target. The electric carmaker in pre-market trading is up $1.24 to $381.05