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BlackBerry Surges, Tesla Stutters: Tech Winners & Losers (Update 1)

Tesla (TSLA ) shares dropped 2.89% to $148.58 after it received an analyst downgrade.

Lazard Capital Markets analyst Aditya Satghare downgraded the stock to "neutral" from "buy," citing a more limited risk-reward. Writing that he saw "limited upside in the stock even giving Tesla the benefit of flawless execution to become a 'Porsche' over the coming decade," he argued that further growth on the stock would depend on its ability to expand overseas and approximately double its volumes. The feasibility of such expansion is unclear "until Tesla launches the Gen 3 in 2016/2017."

The electric car manufacturer's stock's risks include "slower-than-expected adoption of electric vehicles, recalls with components or systems, unsatisfactory yields/challenges during production ramp-up, and increased competition."

Tesla shares soared last week following strong second-quarter earnings far in excess of analysts' expectations.

Closing prices: BBRY jumped 10.5% to $10.78, AAPL rose 2.8% to $467.36 and TSLA dropped 3.7% to $147.88.

-- Written by Laura Berman in New York
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AAPL $95.18 1.64%
BBRY $6.86 -2.83%
TSLA $232.32 -3.92%
FB $117.43 -0.96%
GOOG $692.36 -0.84%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

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