| 5.7°C Dublin

Electricity surge: Tesla shares race to a new high

Close

Range: The Tesla Model X SUV

Range: The Tesla Model X SUV

Range: The Tesla Model X SUV

Tesla's latest acceleration pushed shares above $900 (€815) yesterday morning, but led New Street Research analysts to downgrade the stock to neutral from buy in the midst of a 2020 rally that has doubled its value.

New Street highlighted "limited sources" of further stock appreciation over the next year as the reason behind the downgrade.

"We see 2020 playing out fine, but it is largely expected," the analysts wrote.

Despite the stock's more than 110pc rally this year, it remains one of the most divisive on Wall Street with nine analysts recommending investors buy shares compared to 10 hold ratings and 18 sell-equivalents.

Bloomberg

Irish Independent