Finance Automotive News

"Wells Fargo Downgrades Tesla Stock, Predicts 30% Drop Amid Analyst Upgrades and Downgrades"

Tesla's stock continues to decline as Wells Fargo analyst Colin Langan downgrades the company's rating to underweight, citing flat performance in the E.U. and China and declining U.S. business. The stock has plummeted nearly 30% year-to-date, wiping out $230 billion from its market cap. However, Wedbush analyst Dan Ives remains bullish, reiterating a buy rating and a $315 price target, emphasizing the potential for sales and profitability improvement in the coming quarters despite the current bearish sentiment.