Tesla’s stock jumps 3.5% premarket after Baird outlines catalysts for the second half

Tesla Inc.’s stock TSLA, -1.70% rose 3.5% in premarket trade Monday, putting it on track to end a six-day losing streak, after Baird analyst Ben Kallo said price cuts and their impact on margins will drive the narrative for the electric vehicle maker in the second half. “Potential upcoming catalysts for the stock include Cybertruck launch, a wider-scale adoption of FSD (full self driving), continued growth in the Energy business, expanding into new markets, and a possible AI Day, among others,” Kallo wrote in a note to clients. The analyst has an outperform rating on the stock, the equivalent of buy, and a $300 price target thats some 39% above its current price. The stock has gained 75% in the year to date, while the S&P 500 SPX, -0.01% has gained 13.8%.