Tesla Bears Keep Piling On as Citi Lowers Target
- Analyst flags lingering demand and free cash flow worries
- Slashes target to $191 after Tesla’s lowest close since 2016
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Another analyst is cutting his price target for Tesla Inc., after the electric-car maker on Tuesday fell to the lowest since December 2016.
Citigroup analyst Itay Michaeli lowered his price target to $191 from $238, highlighting “negatively skewed” risks and lingering demand and cash flow concerns. Tesla fell for a sixth day in early Wednesday trading, shedding as much as 3.8% to $197.25. Shares closed down 0.1% at $205.08 on Tuesday after slipping below $200 during the day.