'Bet on Elon Musk' after Tesla upgrades: Analyst

August 16, 2012 – 01:33 pm

Elon Musk, CEO of Tesla.Tesla CEO Elon Musk unveiled upgrades to the company's Model S line on Friday, including new battery, price point and speed options. The changes help to address questions about the cars' driving range and affordability, said Ben Kallo, a senior research analyst at Robert W. Baird.

Read MoreTesla CEO Musk unveils Model S upgrades

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Elon Musk, CEO of Tesla.

Tesla shares closed the day about 3 percent higher, around $274. Skepticism has often surrounded the money-losing company's stock price.

Kallo has a $335 price target on Tesla shares. He believes the Model S upgrades, as well as Musk's saying deliveries of the upcoming Model X and Model 3 vehicles are on schedule, will help move the needle.

He called the Model X, which is slated to reach consumers later this year, "the next major catalyst" for Tesla.


Source: www.cnbc.com

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