{"id":39726,"date":"2023-07-24T07:41:02","date_gmt":"2023-07-24T11:41:02","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-is-getting-a-lot-right-but-heres-why-one-analyst-downgraded-the-stock\/"},"modified":"2023-07-24T07:41:03","modified_gmt":"2023-07-24T11:41:03","slug":"tesla-is-getting-a-lot-right-but-heres-why-one-analyst-downgraded-the-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39726","title":{"rendered":"Tesla Is Getting a Lot Right. But Here’s Why One Analyst Downgraded the Stock."},"content":{"rendered":"
\n
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\n Tesla
\n has been getting it right on its pricing, production, and technology. However, that\u2019s not enough to make the shares attractive at the moment, according to UBS analysts led by Patrick Hummel.\u00a0<\/p>\n

The analysts on Monday downgraded their rating on
\n Tesla
\n (ticker: TSLA) stock to Neutral from Buy, even while raising their target price to $270 from $220.\u00a0<\/p>\n

\n

The recent run-up in Tesla\u2019s share price is the culprit. While Tesla shares were down 1.7% in premarket trading to $255.63, they have more than doubled this year and Hummel and his colleagues suggested that the electric-vehicle maker\u2019s likely progress next year already is priced in.\u00a0<\/p>\n

\u201cWe continue to see Tesla globally leading the race to affordable electric and autonomous mobility, but on a 1-year view, risk\/reward looks balanced,\u201d Hummel and his colleagues wrote.<\/p>\n

Tesla\u2019s recent second-quarter earnings report dispelled some concerns about margins for the UBS analysts and validated the company\u2019s price cuts. However, Hummel said that a further step-change in margins likely will rely on progress made on self-driving technology, with full self driving (FSD) still several years away.<\/p>\n

\u201cTesla\u2019s new Dojo supercomputer could prove to be a game-changer for FSD software iterations, but we still tend to think about autonomy as a multi-year process with big financial upside only when full autonomy is reached,\u201d the analysts wrote. <\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla has been getting it right on its pricing, production, and technology. However, that\u2019s not enough to make the shares attractive at the moment, according to UBS analysts led by Patrick Hummel.\u00a0 The analysts on Monday downgraded their rating on Tesla (ticker: TSLA) stock to Neutral from Buy, even while raising their target price to […]<\/p>\n","protected":false},"author":1,"featured_media":39727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-39726","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nTesla Is Getting a Lot Right. But Here's Why One Analyst Downgraded the Stock. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tesla has been getting it right on its pricing, production, and technology. 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