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Morgan Stanley Slashes Worst-Case Price for Tesla to $10
- Analysts cite market saturation, risk to China growth plans
- Wedbush Securities sees ‘code red’ situation as troubles mount
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Tesla Inc. sustained another blow by Wall Street analysts as Morgan Stanley slashed its worse-case scenario for the share price to just $10 over concern the company has saturated the electric-car market.
“Demand is at the heart of the problem,” analysts led by Adam Jonas said in a note. “Tesla has grown too big relative to near-term demand, putting great strain on the fundamentals.”