Wells Fargo cuts Tesla stock to Sell equivalent with valuation pricey vs. rest of Mag 7

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Wells Fargo cut Tesla (NASDAQ:TSLA) to its lowest rating Wednesday, citing the potential for more price cuts that could hit the bottom line.

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.”

The post Wells Fargo cuts Tesla stock to Sell equivalent with valuation pricey vs. rest of Mag 7 first appeared on Investorempires.com.

 

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