US Top Rating Updates on 11/23: TSLA, MDT, PRU, ESS and More

Citi analyst Itay Michaeli upgraded $Tesla(TSLA.US)$ to Neutral from Sell with a price target of $176, up from $141.33. The year-to-date pullback in the shares has "balanced out" the near-term risk/reward, Michaeli tells investors in a research note. With Tesla's multiple contracting to 30-times estimated 2023 earnings, some of the "prior baked-in expectations that we didn't agree with are out of the stock," writes the analyst.

Citi analyst Joanne Wuensch downgraded $Medtronic(MDT.US)$ to Neutral from Buy with a price target of $85, down from $108, post the fiscal Q2 reuslts. This was one of those quarters when investors question the ability of Medtronic to deliver mid-single-digit revenue growth over time, Wuensch tells investors in a research note.

Raymond James analyst Wilma Burdis downgraded $Prudential Financial(PRU.US)$ to Market Perform from Strong Buy without a price target. After meeting with Prudential Chairman and CEO Charles Lowrey, Burdis tells investors in a research note that the company does not believe its path forward is linear, as its diverse businesses have growth opportunities in multiple markets.