Wells Fargo downgrades Tesla stock: 'Growth company with no growth'

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Tesla (TSLA) has received a downgrade from Wells Fargo, with the firm lowering its rating from Equal Weight to Underweight. In addition, Wells Fargo has...

) has received a downgrade from Wells Fargo, with the firm lowering its rating from Equal Weight to Underweight. In addition, Wells Fargo has significantly slashed its price target on the stock –– setting a new figure of $125, down from $200. The firm cites concerns over Tesla's recent price cuts and potential delivery slowdowns, which it believes will drive further losses for the electric vehicle maker.

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OTTAWA — Statistics Canada says households owed $1.79 in credit market debt on average for every dollar of disposable income in the fourth quarter. The federal agency says seasonally-adjusted household credit market debt as a proportion of household disposable income fell for the third quarter in row. The figure dipped to 178.7 per cent in the fourth quarter from 179.2 per cent in the third quarter.

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