Wall Street Analysts Haven’t Been This Bullish on Tesla Since 2015
- With stock down 37% since September, many see an opportunity
- Sixty percent of analysts now have a buy rating on the stock
A Tesla store in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Tesla Inc. is getting a strong show of faith from a group that Chief Executive Officer Elon Musk once blasted for doubting the company’s prospects: Wall Street analysts.
The electric-carmaker’s shares closed up 7.7% Wednesday, after Federal Reserve Chair Jerome Powell signaled a slowdown in the pace of tightening as early as December, triggering a market-wide rally. Despite the strength, Tesla’s stock recorded its biggest monthly drop since April, capping a rout that’s pushed it down some 37% since late September on concerns about a recession, rising interest rates and the ripple effects of Musk’s takeover of Twitter Inc.