[CNBC Television] Tesla upgraded to Buy at New Street
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The “Halftime Report“ traders discuss New Street’s bullish call on Tesla. Subscribe to CNBC PRO for access to investor and analyst insights on Tesla and more:
New Street said in its upgrade of the company that it sees “several strong catalysts” for the stock and that expectations for next year are “at least 20% too low.”
“We have done a ton of work on Tesla in recent weeks, to the point that we felt the need to “re-initiate” on the name. We have given it a fresh look from multiple angles: the addressable market, the competitive landscape and its upcoming evolution, both from incumbents and new entrants, price, cost and margin trajectories for Tesla, quantifying the energy storage opportunity, understanding how the street will value the stock going forward, etc.”
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