RBC concedes it got things totally wrong about Tesla’s stock
RBC’s comments follow a 50% price-target boost on Tesla earlier this week by a Morgan Stanley analyst
07 January 2021 - 17:57
Long-term bear RBC Capital Markets upgraded its recommendation on Tesla, admitting it had misjudged the electric-vehicle maker.
“There is no graceful way to put this other than to say we got TSLA’s stock completely wrong,” analyst Joseph Spak wrote in a report lifting Tesla to sector perform. The broker had maintained a sell-equivalent underperform rating since January 2019, according to data compiled by Bloomberg. During that time, the shares have surged about 1,200%...
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