Tesla: Berenberg downgrades stock
(CercleFinance.com) - On Wednesday Berenberg downgraded Tesla shares from "buy" to "hold", while adjusting its target price for them from 200 dollars to 210 dollars.
In a report, the broker justifies its downgrade by the fact that its buy rating on the stock - which it based on the erroneous bet of a price war in the making - is now largely endorsed by the market.
Berenberg first justifies its downgrade by a upside potential that it considers as much more limited now, given that the share price has recovered 21% since its upgrade in January.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a report, the broker justifies its downgrade by the fact that its buy rating on the stock - which it based on the erroneous bet of a price war in the making - is now largely endorsed by the market.
Berenberg first justifies its downgrade by a upside potential that it considers as much more limited now, given that the share price has recovered 21% since its upgrade in January.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.