Citi analyst Itay Michaeli sees "far more positives than negatives" in Tesla's Q2 earnings report. The shares are likely to see some near-term strength after the recent pullback, Michaeli tells investors in a post-earnings research note.
The quarter delivered positive data points on Model 3 and to some extent the balance sheet, while autonomous was more neutral, the analyst contends. He sees the next few quarters as "crucial for execution." Michaeli keeps a Neutral rating on Tesla shares with a $357 price target. The electric carmaker is up 6%, or $19.51, to $345.40 in premarket trading.
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