Tesla Inc 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.
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