Tesla Motors Inc (TSLA) A Buy At Today’s Opening: Ben Kallo

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Whether Tesla Motors Inc (NASDAQ:TSLA) is a stock investors should buy at opening today was discussed in a recent interview on CNBC.

The discussion and analysis by the Robert W. Baird & Co. analyst comes after Tesla Motors Inc (NASDAQ:TSLA) reported an adjusted earnings per share of $0.11. revenue was reported to be $858 million, an increase of 55% over the year-ago quarter. Gross margins for the electric vehicle maker also rose to 26.8%.

Tesla, is Tesla a good stock to buy, Ben Kallo,

Kallo dissected the most recent Tesla Motors Inc (NASDAQ:TSLA) quarterly performance report into three elements.

“I’ll break it up into three different parts. [This is a] very good quarter [for Tesla]be it the topline, be it the bottom line. Deliveries came in above where the projections were. Production was above where they were forecast,” he said.

However, Tesla Motors Inc (NASDAQ:TSLA) may face some difficulties in the third quarter, Kallo noted. Nonetheless, the analyst sees a good development revealed by the company.

“If I look ahead into Q3, there may be some weakness there that we warned on, like you said, but I think the biggest thing that stood out in the quarter, in the report, is that they say they should exceed 100,000 units in deliveries by the end of next year, which is well above where the Street is and where we are for next year’s deliveries.

Kallo then said that if asked, they would “be buyers on the open” of the market on Friday. He reiterated the weakness for the company that would come at about the third quarter, but said that the numbers for next year override this weakness.

Robert W. Baird’s rating on Tesla Motors Inc (NASDAQ:TSLA) is Outperform with a price target of $275, or over $50 above the price of the stock at close yesterday.

Disclosure: None

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