Tesla price target raised to $226 from $197 at UBS

UBS raised the firm’s price target on Tesla (TSLA) to $226 from $197 and keeps a Sell rating on the shares. Shares of Tesla have spiked 40% since the U.S. election, adding over $350M of market cap, the analyst tells investors in a research note. Since the election, some policy proposals have emerged that could favor Tesla, but UBS tells investors in a research note that the removal of the EV consumer tax credits is not an absolute positive for U.S. electric vehicle and Tesla demand, and if credits go away, further pricing actions may be needed. UBS continues to believe that FSD is improving, but the product is not ready for wide scale robotaxi deployment, and argues that rise in Tesla stock is mostly driven by momentum.