Bank of America thinks Tesla's first-quarter results mark the start of a big turnaround.
Analyst John Murphy upgraded the electric vehicle maker to buy from neutral.
He also reiterated his price target of $220, which implies upside of 52% from Tuesday's close.
The upgrade comes as Tesla reported weaker-than-expected earnings and revenue for the first quarter.
TSLA 1D mountain TSLA pops BofA's Murphy noted that the quarterly numbers "essentially knocked out the recent negative catalysts with facts or reasonable explanations."
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of America
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