Tesla Inc TSLA shares are trading higher by 4.15% to $160.13 Thursday afternoon. The stock may be rebounding after falling Wednesday following an analyst downgrade.
Tesla shares may also be trading higher in sympathy with the broader tech sector after Meta reported strong quarterly results. Meta's report follows strong earnings from other large-cap tech stocks this week, adding to positive market sentiment. Additionally, initial jobless claims came in below estimates.
See Also: U.S. GDP Growth Falls Short Of Expectations In Q1: Markets React To Potential Fed Policy Shift
What Happened With Tesla Wednesday?
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.
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