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The Ratings Game: Tesla is like Apple and Salesforce, but don’t buy the stock right now, analyst says

Instinet initiated coverage of Tesla Inc. on Tuesday by describing the electric-car company as the Salesforce.com Inc. of the auto industry, but did not suggest buying the stock.

Instinet analyst Christopher Eberle tagged Tesla TSLA, -0.33% shares with a neutral rating, equivalent to a hold, and $300 price target. Instinet discontinued coverage of the electric-car company in February after analyst Romit Shah left the brokerage; at the time Shah left, he also had a neutral rating and $300 price target on Tesla shares.

“Similar to some of the software greats’ disruption of enterprise hardware, Tesla is a true disruptor of the automotive industry, in our view,” Instinet analysts wrote in their initiation note.

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