Tesla earns two upgrades from analysts after its stellar earnings report

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.