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Tesla’s share jump after share split news, Baird analyst maintains neutral rating and price target



Shares of Tesla Inc.TSLA,
-3.11%
Premarket trading rose 6.1% on Wednesday after falling 7.7% after a three-day losing streak after the electric automaker announced a 5-for-1 stock split. Baird analyst Ben Kallo reiterated his neutral rating on the stock since Jan. 9 and kept his price target of $ 1,658, roughly 21% above Tuesday’s closing price of $ 1,374.39. “We believe the stock split is a recognition of the fact that the market is increasingly being influenced by individual investors, including those looking to get involved in the next generation of transportation,”

; Kallo wrote in a statement to customers. “The strength of overnight stocks shows that investors have chosen to buy stocks that are positioned to benefit from the current cycle of upgrades for technologies related to transportation, renewable energy and the software that enables both.” The stock has more than tripled (up 228.5%) since Tuesday through Tuesday, while the S&P 500 SPX,
-0.79%
has increased by 3.2%.


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