Tesla shares are trading lower after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $200 to $125.
Portfolio Pulse from Benzinga Newsdesk
Tesla's stock price declined following a downgrade by Wells Fargo from Equal-Weight to Underweight, with a reduced price target from $200 to $125.
March 13, 2024 | 11:16 am
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Tesla's stock price is expected to face downward pressure in the short term due to Wells Fargo's downgrade and lowered price target.
Analyst ratings and price target adjustments are significant indicators of stock performance. Wells Fargo's downgrade from Equal-Weight to Underweight, coupled with a substantial reduction in the price target from $200 to $125, signals a bearish outlook on Tesla's stock. This is likely to influence investor sentiment negatively, leading to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100