New Rating Added to Tesla

According to recent reports from UBS, Tesla, the electric car giant, has had its rating upgraded from "Sell" to "Neutral."

The change in rating is attributed to a better balance between risk and reward for Tesla.

The bank also maintained its target price for Tesla shares near $452.

It's worth noting that Tesla's stock has seen a significant decline of more than 20% since the beginning of this year due to weak demand for electric vehicles, coupled with rising costs and the company's capital expenditure.

Technical Outlook for the Stock

Tesla's stock is currently trading near $365. It has already begun to rise from previously identified support levels, and further upward movement is expected in the coming period, especially if the current downtrend is broken.