>> After being battered down with lawsuits and a reported SEC probe over trying to take the company private, Tesla on Monday finally got some good news. Brokerages Baird and Bernstein, both backing the electric car maker, saying they believe Tesla will hit its goals in the second half of the year.
And even turn a profit. The stock, which has been pounded down, jumped nearly 8.5% on Monday, its best daily performance since August 7th, when the stock shot up nearly 11% on a tweet, by CEO Elon Musk about going private. A tweet that would later lead to regulatory scrutiny.
Adding to the turmoil, Musk's appearance on a webcast, wielding a sword and smoking marijuana along with another executive departure from the company, sent shares of Tesla's down 6% on Friday. That prompted analysts to reiterate their calls for the company to bring in another senior leader. But Bernstein in its report titled, Amid the sound and fury (and smoke...), has anything actually changed?
Notes, none of the recent bad news are deal breakers for the stock. And Baird stuck with its outperform rating for Tesla saying, its underlying fundamentals should drives shares higher ahead of the third quarter results. The brokerage set a price target for Tesla at $411 a share. The stock on Monday closed at $285.