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Citi goes neutral on Tesla stock, but counts itself in bull camp

Analysts at Citi decided to split the difference between bulls and bears on Tesla Inc. stock, initiating their coverage with a neutral rating.

Tesla TSLA, -0.46% is a leader in “car of the future” initiatives, including shared mobility and driverless cars, and its product success, brand appeal, and other positive attributes can’t be denied, the analysts wrote in a note this week.

See also:Tesla’s first Model 3 to roll off production line this week, says Elon Musk

But it’s best to wait for a better entry point, they said, either through a “stronger balance sheet” or “convincing signs” of a smooth production path for the Model 3, the mass-market electric sedan the company is readying for later this month, with limited ill-effects on the Model S, Tesla’s existing luxury sedan.

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