Investment bank Baird has shifted its Tesla (TSLA.O) rating from ‘outperform’ to ‘neutral’, setting a new price target of $320. Despite recent weakness in Tesla’s quarterly performance, the stock is up 24%, outpacing the S&P 500’s 13% increase. This surge is fueled by anticipation surrounding the launch of affordable vehicles and Robotaxi in June. However, Baird cautions that Musk’s optimism regarding Robotaxi might be unrealistic, with much of the hype already priced into the stock. Furthermore, Musk’s tumultuous relationship with U.S. President Donald Trump adds to the investment uncertainty. Despite a long-term positive outlook for Tesla, Baird currently maintains a cautious approach.