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Analyst downgrades Tesla stock after 50{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} pop
Tesla’s stock is overdue for a downshift into neutral after a sizzling 54{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} year to date run, warns one Wall Street analyst. Berenberg analyst Adrian Yanoshik slashed his rating on the stock to hold from buy on Wednesday, citing mostly valuation relative to when bets on a cheaper new vehicle model and other technologies would bear fruit. “We downgrade our rating to Hold now that our Buy thesis – based on misplaced fears of a price war – appears to have been accepted by the market,” Yanoshik said. “We argued that Tesla can take market share at a gross margin of c25{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} (excluding credits), which indeed is where we see…