After a run to almost its all-time high last week, Tesla’s stock had a 3% setback in pre-market trading this morning after Adam Jonas from Morgan Stanley, one of the most followed auto industry analysts when it comes to Tesla, downgraded the stock following its first quarter results.
Jonas downgraded the stock to “Equalweight” since its run to $325 made it past his $305 price target. The analyst also warns investors that Model 3 deliveries could be much lower than anticipated in 2017 and 2018.
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