Part 2/11:
Barclays analysts recently downgraded Tesla from a Buy to a Hold, simultaneously raising their price target from $220 to $260. This may seem counterintuitive—why would a downgrade coincide with an increased target?
The reasoning lies in the analyst's history and insights. The senior auto analyst, Dan Levy, noted that his past Tesla ratings have a high failure rate, with about 65% likely to be wrong based on historical data, and his average return when rating Tesla was a -53%. Interestingly, he previously recommended selling Tesla while the stock was high, then advised accumulating during the "Hold" phase, and most recently suggested buying again.