Analysts have upgraded their views on Tesla Inc., increasing price targets for the electric vehicle (EV) company’s stock after a recent upgrade by Roth MKM from “neutral” to “buy.” Bank of America Securities raised its target price to $400, while maintaining a “buy” rating. Senior Automotive Analyst John Murphy visited Tesla’s gigafactory in Texas and praised the company’s full self-driving technology.
Meanwhile, Roth MKM analyst Craig Irwin upgraded his price target by 347% from $85 to $380 and changed his rating from “neutral” to “buy,” citing abundant positive catalysts for the EV maker. Guggenheim raised its target price from $156 to $175 while maintaining a “sell” rating.
Despite some analysts downgrading Tesla, those who upgraded have given the company’s stock a strong endorsement. The consensus rating among analysts is now “Buy,” with an average price target of $318.33 and a 13.8% upside potential.
Tesla shares closed up 3.2% at $369.49 on Thursday, bringing the year-to-date gain to nearly 49%.
Source: https://www.benzinga.com/24/12/42358854/multiple-analysts-hike-price-target-on-tesla-days-after-bear-turned-bullish