Tesla: shares fall after broker comments

(CercleFinance.com) - Tesla shares are down 6% on Monday, for the first time dropping under the 200-dollar mark since the end of 2016, after negative broker comments including a cut in US broker Wedbush's target price.


Saying that "clouds are getting darker" for the Californian carmaker, Wedbush explains that it has "major concerns" around the trajectory of Tesla's growth prospects and underlying demand on Model 3 in the US.

The broker also cites "reduced confidence" in the company's ability to hit 2019 unit demand guidance.

In a "neutral" note on Monday, Wedbush lowers its target price from 275 dollars to 230 dollars.

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