Tesla Inc is trading 3.0% down now at $405.73 as growth stocks slide following a stronger-than-expected U.S. jobs report that raised concerns about prolonged higher interest rates.
- The tech-heavy Nasdaq is under pressure as robust labor market data suggests the Federal Reserve may maintain restrictive monetary policy for longer than previously anticipated.
- JPMorgan upgraded the stock to Neutral from Underweight and raised its price target to $475, citing optimism regarding the company’s AI and robotics initiatives.
- The analyst upgrade and increased price target may be providing a floor for the stock, offering some support against the broader sell-off in the technology sector.