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Can Tesla 'Thread The Needle' In Q2? Baird Says It'll Be Buying On Any Weakness

One week ahead of Tesla Inc ’s second-quarter earnings report, Baird analyst Ben Kallo expressed reservations for the near-term but reiterated an Outperform rating and $358 price target nonetheless.

The analyst revised his Q2 and fiscal 2017 estimates to reflect actual deliveries. For Q2, Kallo is looking to see a loss of $2.14 per share and $2.57 billion in sales.

Consensus is above Kallo, with EPS at a loss of $1.81 and $2.56 billion in sales.

Kallo is significantly above the Street for the year though, estimating a loss of $4.51 per share and $12.43 billion in sales.

“We would be buyers on weakness and remain positive on [Tesla]’s long-term prospects,” said Kallo in a note.

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