Investing.com - Ignore the negativity.
That's what one Wall Street firm is saying about the media coverage of electric automaker Tesla (NASDAQ:TSLA), and its struggle to consistently meet Model 3 production targets.
In a note to clients, Baird reiterated its outperform rating and 12-month, stock price target of $411.
The firm says negative news coverage, which has been "increasingly immaterial", has peaked, which will allow Tesla's stock price to "appreciate significantly."
Baird expects Tesla to resolve its production line logjam with the Model 3 based on similar situations with two previous models.
At roughly $275, Tesla shares are down sharply from their 12-month high of almost $400. Nevertheless, the stock is up more than 200% over the past five months.