CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010

Brendan McDermid | Reuters

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Tesla got a pair upgrades from two Wall Street firms following the electric carmaker’s “impressive” third quarter results.

Baird upgraded shares of Tesla to outperform from neutral and raised its 12-month price target to $488 per share from $450 per share. JMP Securities upgraded Tesla’s stock to market outperform from market perform with a $516 per share price target.

Originally published at CNBC

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