Tesla stock fell by 4.5%, closing at $169.48 on Wednesday after Wells Fargo cut Tesla to its lowest rating, citing the potential for more price cuts that could hit the bottom line.
Source: Moomoo
Analyst Colin Langan downgraded TSLA to a Sell-equivalent Underweight from Equal Weight and lowered its price target to $125 from $200, saying its valuation premium to the other Magnificent 7 stocks is "likely a risk."
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