
Tesla Inc (NASDAQ:TSLA) shares are surging by more than 6% on Wednesday. Despite the strong move, the EV stock is still down more than 35% year-to-date and nearly 25% in just the last month.
On Tuesday, Daiwa Capital maintained Tesla with an Outperform rating, but lowered the price target from $1,150 to $800, citing supply chain headwinds and lockdowns in China.