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Tesla Stock - 11/25/2022

admin 2022.11.25 20:50 Views : 32

Tesla Stock

Tesla stock rose more than 2% early Friday before dropping 0.2% to 182.86 during market trading. On Wednesday, shares jumped 7.8% to 183.20, rebounding from Tuesday's bear market lows as Citigroup (Cupgraded the EV giant from a sell to a hold.

TSLA shares remain down around 20% in November, but poised for what could be their first weekly gain in four weeks, leading analysts and  investors to speculate on a possible upturn. The stock has roughly halved in 2022.

The Wednesday Citi research note followed Morgan Stanley (MS) analyst Adam Jonas writing late Tuesday that Tesla stock "is approaching our $150 bear case, driven by price cuts in China, decelerating EV demand and other market currents (Twitter, Crypto?)"

Jonas did not change his overweight rating, equivalent to a buy rating, and $330 price target on Tesla stock. The analyst expects Tesla revenue will grow 37% in 2023, the equivalent of 1.8 million units, with around $15 billion in free-cash-flow.

"All other pure play EV OEMs we cover burn substantial amounts of cash, on our forecasts," Jonas wrote.