Tesla stock has hit a rough patch in recent weeks, but top analysts still see big gains ahead for the EV maker's stock this year.

BofA Securities analyst John Murphy downgraded shares of electric-vehicle maker Tesla to Hold, but his new target price implies about 17% upside.

Tesla bounced back on Friday, closing up 8.2% on the day. As a reminder, a bull put spread is a defined risk strategy, so you always know the worst-case scenario in advance. This type of trade will profit if Tesla stock trades sideways or higher.

Tesla (TSLA) shares fell on Tuesday after a Bank of America analyst downgraded the stock from Hold to Buy. TSLA was trading 3.91% lower at 12:26 pm after showing some erratic behavior in early trading.

Tesla stock was falling in early trading Tuesday after eking out a gain on Monday as Wall Street tries to catch up with investors. Shares of the electric vehicle maker were down 0.5% at $409.00 in premarket trading Tuesday while S&P 500 and Dow Jones Industrial Average futures were edging up 0.

Financial writer analyzes Tesla, Inc.'s performance, citing issues with declining deliveries, inflated valuation, and lack of growth. Click for this TSLA update.