Tesla Inc TSLA shares are trading marginally higher by 0.9% to $161.64 during Friday's session. The stock on Wednesday fell amid an analyst rating downgrade. Shares of Tesla then recovered during Thursday trading in sympathy with the broader tech sector after Meta reported strong quarterly results.
See Also: Tesla Cuts Prices Again: Shaves $1,000 Off On 7-Seater Model Y
Meta's report follows strong earnings from other large-cap tech stocks this week, adding to positive market sentiment. Additionally, initial jobless claims on Thursday came in below estimates.
Jefferies Downgrades Tesla
Our Benzinga team on Wednesday reported Jefferies analyst Philippe Houchois downgraded Tesla stock from Buy to Hold and reduced the price target from $230 to $185.
The Tesla Thesis: Telsa's stepped-up transition to a world of sustainable energy and resource efficiency may slow down electric vehicle penetration and accelerate profit normalization for the industry, analyst Houchois said in a note...Read More
According to data from Benzinga Pro, TSLA has a 52-week high of $318.50 and a 52-week low of $101.81.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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