Erste Group Upgrades Tesla to Hold

Erste Group analyst Hans Engel upgraded Tesla (NASDAQ: TSLA) from Sell to Hold.

“Tesla is focusing on maximum capacity utilization in all factories.

Series production of Cybercabs (robotaxis) and Tesla Semi (truck tractors) will start on schedule this year. On a positive note, the sales trend has improved and the operating margin has also risen.

The Group’s sales and profits will increase this year, supported by new products.

However, the very high valuation of the stock based on the P/E ratio severely limits the further potential for stock price growth.”

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