Shares of Tesla Motors Inc TSLA are almost flat year-to-date, after tumbling almost 4 percent over the past five trading sessions. Following the recent decline, the crowd seems to believe that downside is now much more limited.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
Consequently, top raters at the Vetr community have decided to upgrade their rating on the stock from 2.5 Stars (Sell) to 3.0 Stars (Hold) - out of a possible 5.0 Stars rating.
The new rating better reflects the now limited downside potential (1.3 percent) implied by the crowd’s price target of $238.63 per share. Finally, it should be noted that 51 percent of the crowd's ratings are now bearish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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