Tesla (TSLA) is not sitting well on Wednesday after analysts at Wells Fargo downgraded the electric vehicle (EV) manufacturer to Underweight from Equal Weight.
Wells Fargo cuts
is now trading at its lowest level since May 2023. Support for Tesla stock arrives soon in the $150s and $160s. Tesla lost the $170 support level on Wednesday after analysts at Wells Fargo downgraded the electric vehicle manufacturer to Underweight from Equal Weight. at $125 Wells Fargo analyst Colin Langan placed a sell-equivalent rating on Tesla stock for its perceived expensiveness compared with other tech leaders. “While an EV & battery tech leader,
stock is now down 59% from its all-time high of $414.50 in November 2021. Deutsche Bank and Morgan Stanley have both trimmed their price targets on Tesla stock since the start of February — to $218 and $320, respectively — but both houses still have buy-equivalent ratings on
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