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Citi Turns Bullish On Tesla; Here's A Look At Other Price Target Changes By The Most Accurate Analysts

Citi analyst Itay Michaeli upgraded Tesla Inc 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%.

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