Hyperdrive
Tesla Analyst Balks at Valuation Despite Regret Over Downgrade
- JMP Securities analyst cut rating right before stock rallied
- Osha still circumspect despite ‘awesome’ competitive position
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An analyst who picked an inopportune time to downgrade Tesla Inc. is expressing regret, giving Elon Musk credit, and yet still doubting the electric-car maker deserves such a rich valuation.
“I wish I hadn’t done it,” Joe Osha, an analyst at JMP Securities, said of his decision to cut Tesla to the equivalent of a hold from a buy on Oct. 3.