Daiwa analyst Jairam Nathan upgraded Tesla to Outperform from Neutral with a price target of $900, down from $980. The analyst says renewed supply chain concerns combined with higher oil prices enhance Tesla’s competitive advantage over legacy internal combustion engines. Tesla’s ability to export out of “cost-efficient” China and its history of better managing chip shortages in 2021 could strengthen its competitive position under the current Russia/Ukraine situation, Nathan tells investors in a research note. Further, higher oil prices and the potential of fuel shortages, especially in Europe, could accelerate the shift to electric vehicles, adds the analyst.