Citi analyst Itay Michaeli upgraded Tesla Inc (NASDAQ:TSLA) to Neutral from Sell with a price target of $176. Michaeli sees around 4% decline in the stock and has an accuracy rate of 53%.
Analyst predicated the action on the year-to-date pullback that has balanced out near-term risk/reward.
During October, Tesla reported third quarter revenue of $21.45 billion, up 56% year-over-year. However, the total came in below analysts' estimates of $21.96 billion.
Tesla shares gained 7.8% to close at $183.20 on Wednesday, adding another 0.9% in the after-hours trading session.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the electric-vehicle maker in the recent period.
- Morgan Stanley’s analyst Adam Jonas maintained an Overweight rating on October 25, 2022, but lowered the price target from $350 to $330. Jonas sees around 80% upside in the company’s stock and has an accuracy rate of 57%.
- Mizuho’s analyst Vijay Rakesh reiterated a Buy rating on the stock on October 20, 2022, but cut the price target from $370 to $330. This analyst sees around 80% upside in the company’s stock and has an accuracy rate of 65%.
- Deutsche Bank’s analyst Emmanuel Rosner maintained a Buy rating on October 20, 2022, but slashed the price target from $390 to $355. Rosner sees around 94% upside in the company’s stock and has an accuracy rate of 71%.
- Wedbush’s analyst Daniel Ives maintained an Outperform rating on the stock on October 20, 2022, but slashed the price target from $360 to $300. Ives sees around 64% upside in the company’s stock and has an accuracy rate of 58%.
- RBC Capital’s analyst Joseph Spak reiterated an Outperform rating on the stock on October 20, 2022, and slashed the price target from $340 to $325. This analyst sees around 77% upside in the company’s stock but has an accuracy rate of just 40%.
