Jefferies Upgrades Tesla (TSLA) to Buy

Jefferies analyst Philippe Houchois upgraded Tesla (NASDAQ: TSLA) from Hold to Buy with a price target of $650.00 (from $800.00).

The analyst comments "We upgrade Tesla with $650PT ($800) as the only auto OEM 1) legacy-free, 2) engaged in a +ve EV sum-game, 3) ~doubling market coverage with Model Y and 4) leading the industry's technological transformation. US demand at risk near term from low gas prices but EVs mandated elsewhere and storage critical. Post est. cut (industry scenario), we see Tesla growing volume 25+%, with earnings and FCF supported by better productivity, stable ASPs and ZEV income."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $480.01 yesterday.

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