Tesla price target raised to $192 from $146 at Citi

Citi analyst Itay Michaeli raised the firm’s price target on Tesla to $192 from $146 and keeps a Neutral rating on the shares. The analyst says the company’s Q1 auto gross margins will give investors a first look at the impact of Tesla’s Q1 price cuts. Citi does not have conviction around a beat, so it currently sees a neutral Q1 setup for the shares. That said, recent data points have looked more encouraging, including China registration and a "mindshare" analysis, the analyst tells investors in a research note. The firm believes Tesla’s competitive lead could widen further in a hard landing economic scenario, "at least to some extent."