Tesla has already lost half its value since December, but Wells Fargo says it could fall another 40%. Colin Langan, an analyst at the bank, lowered his 12-month price target from $135 to $130 on Friday and maintained an underweight rating.

Wells Fargo reiterated its "Underweight" rating on Tesla (TSLA, Financial) shares in a Friday note, lowering its price target to $130 from $135. The bank cited weak fundamentals, slowing sales, and margin pressures as key risks.

Tesla (NASDAQ:TSLA – Free Report) had its price target lowered by Wells Fargo & Company from $135.00 to $130.00 in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage currently has an underweight rating on the electric vehicle producer’s stock.

There can be no doubt that electric vehicle giant Tesla (TSLA) has had a punishing first quarter of 2025 so far. The stock has lost half its

Tesla stock closed down 3% at $240.68, while the S&P 500 and Dow Jones Industrial Average lost 1.4% and 1.3%, respectively. Tesla stock rose 7.6% on Wednesday after gaining 3.8% o