UBS raised the firm’s price target on Tesla (TSLA) to $226 from $197 and keeps a Sell rating on the shares. Shares of Tesla have spiked 40% since the U.S. election, adding over $350M of market cap, the analyst tells investors in a research note. Since the election, some policy proposals have emerged that could favor Tesla, but UBS tells investors in a research note that the removal of the EV consumer tax credits is not an absolute positive for U.S. electric vehicle and Tesla demand, and if credits go away, further pricing actions may be needed. UBS continues to believe that FSD is improving, but the product is not ready for wide scale robotaxi deployment, and argues that rise in Tesla stock is mostly driven by momentum.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TSLA:
- Tesla settling technology theft suit with Rivian, Bloomberg says
- VOO ETF Update, 11/25/2024
- Tesla factory releases pollutants, wastewater into environment, WSJ says
- 3 Top ETFs, 11/25/2024, According to Relative Volumes
- Cathie Wood’s ARK Invest Capitalizes on Palantir and Tesla’s Stock Surge
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
