Tesla Analyst Drops Bullish Stance As Near-Term Storm Takes Shape, But Sees Elon Musk-Led Company As Long-Term EV Winner
Portfolio Pulse from Adam Eckert
Barclays analyst Dan Levy downgraded Tesla from Overweight rating to Equal-Weight rating and raised the price target from $220 to $260, citing near-term headwinds. Tesla shares have risen nearly 50% in the last month due to increased enthusiasm around AI and the company's charging network adoption by other automakers.
June 21, 2023 | 2:43 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Barclays downgraded Tesla to Equal-Weight rating and raised the price target to $260, citing near-term headwinds. Tesla shares have risen nearly 50% in the last month.
The downgrade by Barclays analyst Dan Levy is based on near-term headwinds, which could negatively impact Tesla's stock price in the short term. The recent 50% increase in share price may also make the stock more vulnerable to a correction. However, the analyst still sees Tesla as a long-term winner in the EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100