Tesla could see big gains over the coming years if the automotive company can meet its "lofty" market capitalization and product goals, Baird said Friday in a note to clients. The firm upgraded the Elon Musk-led company to outperform from neutral. It raised its price target for the electric-vehicle maker to $548 from $320, implying 31.5% upside. "Focus has increasingly shifted to the future for TSLA," Baird analyst Ben Kallo said in the note. "The road ahead is chock-full of catalysts." In September, Tesla released a series of product and market capitalization milestones for its business over the next decade tied to Musk's nearly $1 trillion pay package . Under the proposal, the EV maker aims to boost its valuation nearly eightfold to more than $8 trillion and hit $400 billion in adjusted

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