Tesla bulls' biggest talking point, optimism surrounding the lower-priced Model 3, faces challenges as China is reportedly halting sales of the vehicle.
Amid the rapid developments surrounding Tesla, and as pressure builds on its share price, analysts are telling clients the bull thesis appears to be shifting before investors' very eyes.
Johnson cut his price target from $210 to $192 — implying a 30% drop from current levels — and maintained his"underweight" rating on the belief that increased volume and cost savings are unlikely to offset the company's lower margins.Tesla is 'out of bullets' and will plunge below $100 this year, former hedge-fund manager Whitney Tilson says
In a similar vein, Citi analyst Itay Michaeli told clients that while bulls will"applaud Tesla's pricing achievement," bears could suggest the move was motivated by slowing demand.
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