UBS Throws A Speed Bump On Tesla's Road - Should Investors Pump The Brakes Or Keep Their Foot On The Gas?
Portfolio Pulse from Zaheer Anwari
UBS has downgraded its previously bullish stance on Tesla to a 'Neutral' rating, causing investors to reconsider buying. However, UBS still sees potential in Tesla's future and has raised their price target for Tesla from $220 to $270. Tesla's stock price has risen by 110% year-to-date, even after adjusting for recent corrections.
July 25, 2023 | 8:53 pm
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UBS downgraded Tesla to 'Neutral' but raised its price target from $220 to $270. Tesla's stock has risen by 110% year-to-date, even after adjusting for recent corrections.
UBS's downgrade might cause some investors to hold off on buying Tesla's stock in the short term. However, the raised price target and the fact that Tesla's stock has risen significantly year-to-date suggest that the company's long-term prospects remain strong. Therefore, the short-term impact on Tesla's stock price is likely to be neutral.
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