TSLA
UBS finally takes the foot off the brake
UBS upgraded Tesla from Sell to Neutral on April 14 and kept its price target parked at $352. That’s not exactly a victory lap, but it is a lot less gloomy than a straight-up Sell call.
The stock is still running ahead of the tape
Tesla’s current price was shown at $364.20, versus a GF Value of $254.25, which the note framed as 43.2% overvalued. Translation: the market is still paying up like this thing has a second engine hidden under the hood.
Why investors should care
This is one of those analyst calls that matters less because of the rating itself and more because it reinforces the “great company, pricey stock” narrative. UBS didn’t suddenly declare Tesla cheap — it just backed away from the full bear case.
A few things are doing the eyebrow-raising here:
- the target is still below the stock price
- insider selling totaled $20.9 million over the last three months
- the market is still pricing in a lot of optimism around Tesla’s next act
Big picture: Tesla is still Tesla — a stock that can make people feel like geniuses or fools before lunch. UBS just moved from “hard pass” to “maybe, but with caveats,” and that’s hardly a green light for the bulls.