After appointing a new chief automotive analyst, JPMorgan turns bullish on Tesla

Golden Ten Data reported on June 5 that, after appointing a new chief automotive analyst, JPMorgan has turned bullish on Tesla. JPMorgan recently named Rajat Gupta as its automotive analyst. Gupta raised Tesla's price target to $475 and upgraded the stock rating to "Hold." Former automotive analyst Ryan Brinkman had been recommending selling the stock since 2015 and expected the price to drop to $145 by year-end. Gupta previously worked under Brinkman. In a report released on Friday, he highlighted Tesla’s "unique vertically integrated advantage," stating that this advantage is "currently still underestimated and misunderstood."