Shares of Tesla (TSLA.O) up 1.8% at $358.89 premarket
UBS upgrades Tesla to “neutral” from “sell”; reiterates $352 PT
Current levels more evenly balance near-term demand challenges and investment period with the long-term physical AI opportunity
UBS adds that Tesla stock trades more on sentiment and momentum than fundamentals, but expects progress over time in robo-taxis and Optimus
Recent concerns over EV demand, a Q1 2026 energy shortfall, higher costs, higher capital spending requirements, and slow progress of robo-taxi and Optimus have weighed on stock - UBS
As of last close, Tesla shares down 21.6% YTD

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- Tesla shares (TSLA.O) increased by 1.8% to $358.89 in premarket trading following an upgrade from UBS, which changed its rating from "sell" to "neutral" while maintaining a price target of $352.  
- UBS notes that the stock currently reflects sentiment and momentum more than fundamentals, citing ongoing challenges such as electric vehicle demand and high capital expenditures.  
- Despite recent setbacks, UBS anticipates advancements in Tesla's robo-taxi and Optimus projects will positively influence the stock over time.

Reuters

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BUZZ-Tesla climbs after UBS upgrades to 'neutral'