Shares of Tesla Inc. TSLA, -4.63% sank 3.
1% to a 4 1/2-month low in morning trade Tuesday, after Barclays' Brian Johnson cut his price target to be the most bearish of analysts surveyed by FactSet, saying the sooner-than-expected price cuts to Model 3s and retail store closures undermines the bull thesis. He reiterated the underweight rating that been in place for the past three years, while lowering his price target to $192--31% below current levels--from $210.
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