Shares of Tesla rose significantly Wednesday morning!
The lifted followed by analyst’s report that is helping the stock to a strong weekly performance, despite a sluggish start of November.
Tweet on Tesla stock
Shares of @Tesla rose Wednesday morning, lifted by an analyst's report that is helping the stock to a strong weekly performance so far despite a downbeat month.
— The_Journalbiz (@the_journalbiz) November 23, 2022
FactSet chart on Tesla stock during 2022
The shares were recently up more than 5% to just under $180 apiece. Citi analysts on Wednesday updated the stock to neutral from sell, lifting its price target to $175 roughly $5 above Tuesday’s close from about $141. The mean analyst estimate on Tesla’s stock is around $289, according to FactSet.
Tesla’s stock was recently down nearly 22% this month, on pace for its worst monthly performance since May 2019; it’s also having its worst year on record, according to Dow Jones Market Data.
“We believe that the (year-to-date) pullback has balanced out the near-term or the risk reward, for investors” Citi wrote