JPMorgan Turns Rosy on Tesla a Day After Dimon Lauds Musk (2)

The morning after Jamie Dimon offered Elon Musk an audience to talk up SpaceX, JPMorgan Chase & Co.’s new lead autos analyst completely changed the bank’s tune on Tesla Inc.

The firm recently cast Rajat Gupta to take on companies previously covered by Ryan Brinkman, long one of Wall Street’s more pessimistic analysts following Tesla. On Friday, Gupta hiked JPMorgan’s price target by 228% and upgraded Tesla’s stock to the equivalent of a hold.

JPMorgan had recommended that investors sell Tesla since February 2015, a period coinciding with a 2,850% increase in the stock price. The bank’s about-face ...