Baird upgraded Tesla's rating to "Outperform," optimistic about its artificial intelligence potential, and Tesla rose 1.2% in pre-market trading

Due to Baird upgrading Tesla's rating from "Neutral" to "Outperform" and noting that the electric vehicle manufacturer is increasingly seen as a leader in the field of artificial intelligence, Tesla's stock price rose 1.2% in pre-market trading. Baird analyst Ben Kallo stated, "After a series of underperforming quarters, Tesla's stock price has reacted relatively flat, and investors are increasingly focusing on its long-term plans, which leads us to believe that the market's attention on Tesla is shifting towards the future." Kallo mentioned that he "previously underestimated the forward-looking value of the core automotive business." Elon Musk's recently proposed compensation plan is "based on lofty goals for product launches and market capitalization." The target price is set at $548, implying a 31% increase from the previous trading day's closing price