Here’s why Tesla is Baird’s top stock-market pick for 2017

Tesla Motors Inc., fresh from its $2.6 billion merger with solar-power provider SolarCity Corp. in November, was named top stock-market pick for 2017 by Baird Equity Research on Friday, with analyst Ben Kallo forecasting that Tesla Energy and Model 3 production will beat expectations.

“We believe TSLA’s TSLA, -0.46% energy storage business and growth opportunity is not currently reflected in share prices,” Kallo wrote in a note.

Also:Elon Musk plans crazy 2017 for Tesla, but SolarCity may be the biggest headache

Baird is of the opinion that battery sales are increasing and should get another boost from a battery-production ramp-up that will coincide with the launch of the Model 3, the all-electric sedan Tesla hopes to start selling late next year for about $35,000.

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