JPMorgan Chase's pessimism about Tesla dropped sharply after replacing analysts

On June 5, after changing the chief analyst of the automotive industry, JPMorgan Chase's bearish attitude towards Tesla significantly weakened. Previously, JPMorgan arranged for Rajat Gupta to replace Ryan Brinkman in tracking the auto sector. Brinkman has long been one of the most unbullish analysts on Wall Street on Tesla stocks. After Gupta took over, he raised JPMorgan's price target for Tesla to $475 and upgraded the stock to the equivalent of a hold level. Brinkman has recommended selling Tesla stock since 2015 and had predicted its share price would plummet to $145 before the end of the year. In a report released Friday, Gupta, who previously worked under Brinkman, praised Tesla's "unique advantages" of its vertically integrated model, saying it "still remains to some extent undervalued and understood."