Tesla Inc. has been upgraded to 'Buy' from 'Neutral' by Bank of America, with a new price target set at $220. This upgrade comes as Tesla's stock saw a 12% increase and is attributed to the company's better-than-expected Q1 results and positive management commentary, which revitalized Tesla's growth narrative. Bank of America noted that the Q1 results were better than feared, clearing negative catalysts that had previously weighed on the stock. Additionally, if Tesla shares open up 11.5% in pre-market trading, it will mark the strongest post-earnings opening for the company since October 24, 2019.
🔥Tesla $TSLA earnings stats... Coming into today, TSLA shares had opened down at least 4% on each of its last 4 earnings reaction days. If shares open up 11.5% (where they're trading now in the pre-market), this will be TSLA's strongest post-earnings open since 10/24/19. https://t.co/pxagd2yqBB
Wall Street is weighing in on $TSLA following their Q1 report. This includes an Upgrade from Bank of America to a Buy, saying the 'Q1 results were better than feared and the report cleared the deck of negative catalysts.' #Tesla https://t.co/QVSupEZQGM https://t.co/8vn1Cd582r
Ray Wang is 'bullish' on Tesla after EV stock slides https://t.co/DOBS1OLjzb
TESLA $TSLA upgraded to 'Buy' (from 'Neutral') at Bank of America, with a $220 price-target "Tesla's Q1 results were better than expected which, coupled with management commentary, addressed key concerns heading into the quarter and revitalized the growth narrative.…
Tesla $TSLA stock extends gains to 12% as Bank of America upgrades to Buy https://t.co/4AlVoGDyUL https://t.co/PwOJSsFmhB
$TSLA upgraded to Buy at BofA. PT $220