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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