CLSA Downgrades Tesla Motors (TSLA) Two Notches to Underperform

CLSA downgraded Tesla Motors (NASDAQ: TSLA) from Outperform to Underperform with a price target of $220.00 (from $275.00).

Analyst Andrew Fung said they see risk to near-term earnings from lower initial Model X margins, which in light of Tesla's recent execution issues and together with investor concerns around demand, could limit this year's upside potential.

For an analyst ratings summary and ratings history on Tesla Motors click here. For more ratings news on Tesla Motors click here.

Shares of Tesla Motors closed at $201.72 yesterday.

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