Market Overview

Tesla Shares Under Pressure Again After Morgan Stanley Lowers Price Target

Share:
Tesla Shares Under Pressure Again After Morgan Stanley Lowers Price Target

Tesla Inc (NASDAQ: TSLA) shares fell below the $200 mark Monday for the first time in three years and the stock was under selling pressure again Tuesday morning.

Influential Morgan Stanley auto analyst Adam Jonas maintained his price target of $230 per share. What's getting a lot of people talking in his extreme bear-case scenario price target cut, from $97 to $10 per share.

"We have longheld that Tesla’s share price performance is driven by: demand for its products,ability to generate cash flow, and access to capital markets. This year’s sharp deceleration in demand has led to a substantial curtailment of the company’s ability to self-fund through free cash flow generation,at the margin potentially impacting the firm’s access to capital," Jonas wrote in the note. Read more here.

Tesla's stock closed Monday's session at $205.36 per share. The stock was down 3.6 percent to $197.94 early Tuesday morning.

Related Links:

Wedbush Lowers Tesla Price Target, Shares Fall Below $200

Short Sellers Making Bank Following Tesla's Technical Breakdown

Latest Ratings for TSLA

DateFirmActionFromTo
Jun 2019Initiates Coverage OnUnderperform
Jun 2019ReiteratesSell
Jun 2019UpgradesNeutralBuy

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Adam Jonas Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (TSLA)

View Comments and Join the Discussion!

28 Stocks Moving In Tuesday's Pre-Market Session

Home Depot Posts Mixed Q1 Results, Reaffirms Guidance