Tesla cars charge at a Tesla Supercharger station in Pasadena, California on March 30, 2026.
Justin Sullivan | getty images
Tesla The stock rose more than 6% on Wednesday after UBS analysts upgraded their rating on the stock from Sell to Hold and raised their price target by nearly a dollar to $352.
Moving away from an earlier bearish outlook, UBS analysts led by Joseph Spack wrote in their upgrade note on Tuesday that the news that Tesla is working on A new, smaller SUV While this is a “welcome development,” the company believes Tesla’s current light-duty vehicle offering is “too limited.”
The company’s lineup currently includes the Model 3 sedan, Model Y SUV, and the angular steel Cybertruck. The company has ceased sales of its flagship Model S and
The rising share price also comes after Tesla launched a spring update to its in-vehicle software, which includes features that make it easier for customers to subscribe to the company’s premium, Full Self Driving (Supervised) option and see statistics in their touchscreens about how often they are using its features.
CNBC’s Michael Bloom contributed to this report.
