TD Cowen upgraded Tesla (TSLA) to Buy from Hold and ramped up its price target to $388 from $180. Jeff Pierce notes the company's promise in EVs and robotics that the firm sees in Tesla, adding the start of an "innovation cycle" can thrust the stock back to all-time highs. However, Dan Deming sees "potential for further downside" before that happens. He offers a neutral to bullish example options trade for Tesla.