Source: Unsplash
New Street Research analyst Pierre Ferragu downgraded Tesla (TSLA) to Neutral from Buy with an unchanged price target of $578.
Tesla still faces a "decade of hyper-growth" but the near-term upside is now factored into the shares, Ferragu tells investors in a research note.
The company's long-term valuation remains attractive, adds the analyst, who keeps a 2025 price target for the shares of $1,200.
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