SpaceX Falcon 9 Suffers Malfunction During Starlink Launch
Today's Morning Movers and Top Ratings: C, JPM, WFC, T and More
Citigroup's stock rose by 3.4% in premarket trading as the banking giant reported second-quarter earnings that exceeded analyst expectations. Check out how JP Morgan, Wells Fargo and AT&T's stocks are moving today.
NVIDIA To Rally More Than 33%? Here Are 10 Top Analyst Forecasts For Friday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.Piper
"Too much, too fast!" UBS Group downgraded Tesla's rating to sell, citing the excessive valuation of non-automotive business.
Following the news of RoboTaxi's two-month delay in its release, Tesla was criticized by UBS Group on Friday, July 12th. Analysts, including Joseph Spak, downgraded Tesla's rating from 'Neutral' to 'Sell' in a report, citing concerns over the company's share price rising too quickly and resulting in an increasingly difficult-to-justify valuation. Currently trading at 86 times forward earnings with a lack of visibility, there is a risk that the company may not be able to achieve its growth targets due to delays. The institution believes that this is being driven by enthusiasm for artificial intelligence.
Why Tesla Stock Is Trading Lower In Friday's Premarket
Tesla, Inc. (NASDAQ:TSLA) shares could head lower for a second straight session if the premarket losses are sustained in regular trading.The stock slumped 8.44% on Thursday before settling at $241.03,
Tesla Is Downgraded by UBS Due to Valuation Concerns