What's Going On With Tesla Stock Today?

Tesla Inc TSLA shares are trading higher Tuesday morning. Multiple analysts provided updates on the Elon Musk-led automaker. 

What Happened: Jefferies analyst Philippe Houchois maintained Tesla with a Buy rating and lowered the price target from $350 to $180, citing a bumpy road ahead for the automaker.

The Jefferies analyst expects the EV company's 2023 earnings trajectory to be impacted by a potential recession in the auto industry, but he is sticking to his thesis that Tesla is leading the industry into a better business model.

Houchois also noted that the appointment of Tom Zhu "looks positive" for Tesla. Zhu, Tesla's China chief, was reportedly promoted to a role in which he will also oversee sales operations in North America and Europe.

BofA Securities analyst John Murphy also maintained Tesla with a Neutral rating and lowered the price target from $135 to $130.

See Also: Tesla Seeing Demand Surge After Price Cuts Leads To Rivals Aping Move As Xpeng Joins The Party

TSLA Price Action: Tesla has a 52-week high of $384.29 and a 52-week low of $101.81.

The stock was up 2.52% at $125.48 at time of publication, according to Benzinga Pro.

Photo: courtesy of Tesla.