Nothing to see here. Move along. It was just an accident, just bad timing. The barrier that Wall Street used to call a Chinese wall—barricading firms against conflicts of interest between their analysts and their investment bankers—is still intact. Or so they say at Goldman Sachs, at Morgan Stanley, around the corner, down the block and in the bars.
Tesla, the electrifying electric-car stock, went up some more on May 18 after Goldman Sachs analysts issued an upgrade to a Buy rating and set a price target of $250. “Following a 23% decline in the share price post the Model 3 unveil, we do not believe Tesla shares are fully capturing the company’s disruptive potential,” said Goldman analyst Patrick Archambault.