Tesla's stock nears multi-year low as analyst again slashes price target
Shares of Tesla Inc. TSLA, -7.58% tanked 3.6% toward a 2 1/2-year low in premarket trade Monday, after analyst Dan Ives at Wedbush slashed his price target, citing "major concerns" about the trajectory of the electric car maker's growth prospects. Ives kept his rating at neutral but lowered his price target to $230 from $275, less than a month after downgrading Tesla to neutral from buy and cutting his price target to $275 from $365.
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