Jefferies analyst Philippe Houchois upgraded Tesla to Hold from Underperform with an unchanged price target of $250. The electric carmaker closed Thursday up $8.35 to $266.13. In a research note partially titled "Shares Back On Earth," Houchois points out that Tesla shares are down 32% from their September 2017 peak. The analyst sees a "high probability" that management and the board, when releasing Q1 unit data this week, take "more drastic action" on guidance and funding to "restore credibility." At the current stock price, either would be positive, Houchois writes. The analyst believes "higher than consensus" dilution from a capital raise could be positive for the shares, if it "credibly de-risked" the Model 3 production ramp up.

Says it may still take three years for automaker to integrate Tesla AI technology into its model

Elon Musk says: "Regarding FSD Version 12, which is the pure AI-based self-driving, if you haven't experienced this, I strongly urge you to try it out, it's profound. And the rate of improvement is rapid. And we've now turned that on for all cars with the cameras and inference computer everything from Hardware 3 on in North America. So it's been pushed out to, I think, around 1.8 million vehicles, and we're seeing about half of people use it so far and that percentage is increasing with each passing week."

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Tesla (TSLA) is expected to report results on its fiscal first quarter on Tuesday, April 23, with a conference call scheduled for 5:30 pm EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here

Wells Fargo lowered the firm's price target on On Semiconductor (ON) to $95 from $110 and keeps an Overweight rating on the shares ahead of quarterly results. The firm anticipates On to deliver a Q2 guide slightly below expectations as it adjusts to Tesla-specific (TSLA) production softness specific to image sensor and SiC sales.