- Tesla (NASDAQ:TSLA) -1.6% premarket after Deutsche Bank downgrades shares to Hold from Buy, citing valuation and an "insufficient" risk/reward at current levels.
- The firm thinks the electric vehicle market should increase dramatically from current levels, and TSLA could become the dominant player in the space, but the company's opportunity looks priced into the stock at current levels.
- Despite the downgrade, the firm raises its 2020 EPS to $22.20 from $20 and raises its stock price target to $280 from $245.