Tesla Remains a Sell at UBS After Target More Than Doubled
- UBS says positives ‘taken for granted’ at current share price
- Tesla stock has more than doubled in past three months
The Tesla Inc. Gigafactory stands in Shanghai, China
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Even after more than doubling his Tesla Inc. price target, UBS Group AG analyst Patrick Hummel still recommends that investors sell the electric-car maker.
With the shares worth more than twice as much as they were at the beginning of October, UBS’s increased target of $410 is still 28% below the last closing price of $569.56.