After hearing from CEO Elon Musk at Tesla's shareholder meeting on Tuesday, Ben Kallo, an R.W. Baird senior research analyst, said that the electric-car maker is his top stock pick for the second half of 2014.

Musk spoke about his plan for driving growth at the company, while admitting there is a "manic depressive" aspect to Tesla's short-term trading in the market.

On CNBC's "Fast Money," Kallo said that there are still catalysts ahead for the company, including earnings.

"We have a quarter that's lined up very nicely for a solid beat," he said. "Production is very good. We were out at the factory about 2½ weeks ago. I think they're ahead of schedule meeting their targets for the quarter."

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Kallo has an outperform rating on Tesla with a $275 price target.