Analysts Are Cutting Price Targets of These 5 Stocks

2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 88

BofA lowered its price target for Tesla, Inc. (NASDAQ:TSLA) from $135 per share to $130 per share on Tuesday, January 17. Analyst John Murphy believes the company is facing multiple headwinds, like intensifying competition. Murphy also pointed towards demand concerns amid Tesla’s latest decision to cut vehicle prices.

Tesla, Inc. (NASDAQ:TSLA) reduced the prices of its top-selling models in China earlier this month. The electric vehicle giant seems to be benefitting from the move. According to the latest data compiled by China Merchants Bank International (CMBI), the company’s average daily sales in China between January 9 – January 15 skyrocketed 76 percent on a year-over-year basis.

Follow Tesla Inc. (NASDAQ:TSLA)