5 Huge Analyst Calls: Tesla Slashed at Goldman; Pfizer Cut on 'Uncertainty'

investing.com:

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: downgrades for Tesla and Pfizer, upgrades for Nvidia and Pinterest, and an outperform initiation for Frontier Comms.

InvestingPro subscribers always get first dibs on market-moving upgrades. Start your 7-day free trial to see for yourself.

What happened? On Sunday night, Tesla (NASDAQ:TSLA) was downgraded to Neutral at Goldman Sachs with a $248 price target.

What’s the full story? Tesla is becoming repetitive and honestly rather boring. Musk is letting his ego get ahead of himself, but I digress.

Early Monday, scalpers jumped on the Sunday night downgrade to spread the intel at 4AM then again at 6AM. Goldman didn’t blow anyone's socks off when they stated the driver of the downgrade as:

…we believe the stock now better reflects our positive long-term view of the company's growth potential and competitive positioning.

Goldman believes that their valuation — at 187x enterprise value to free cash flow (EV/FCF) for the next 12 months (NTM) — continues to be somehow reasonable.

Neutral at Goldman is described as follows:

Any stock not assigned as a Buy or a Sell on an Investment List with an active rating (i.e., a stock that is not Rating Suspended, Not Rated, Coverage Suspended or Not Covered), is deemed Neutral.

How did the equity react? Tesla shares, predictably volatile on days ending in “Y,” traded lower on the first premarket execution, at a $253 handle, down to a $249 handle. And then, you guessed it, they rebounded higher into 6AM and subsequently 7AM — as a way to trap retail traders.

Shares sold through the day to close at the $241 handle. Hilariously, it was the week's low before they rocketed upwards through the end of the