Tesla: New Street Research re-initiates coverage with 'buy'

(CercleFinance.com) - Shares in Tesla rose by more than 2% on Thursday after New Street Research re-initiated coverage on the electric carmaker with a "buy" rating.


New Street, which started coverage on Tesla in May 2018 when the company was about to become a fully profitable premium car manufacturer, downgraded its rating on the stock from "buy" to "neutral" in July 2020, saying that near-term catalysts had become limited.

New Street Research now has a target price of 578 dollars on the shares.

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