Tesla is battling a global slowdown in EV demand following last year's price war that hurt margins and has lost nearly $200 billion in market value as its shares slumped nearly 29% this year. The brokerage also slashed Tesla's price target to $120 from $200, which is one of the lowest on Wall Street and implies a 32% downside to stock's last closing price. Investor concerns over the company's prospects have been high since CEO Elon Musk in January warned that growth would be "notably lower" this year...

Tesla (TSLA) has received a downgrade from Wells Fargo analyst Collin Langan, lowering the automaker's stock from Equal Weight to Underweight. In addition, Langan has significantly slashed Wells Fargo's price target on the stock to $125 per share, down from $200. The analyst's team cites concerns over Tesla's recent price cuts and potential EV delivery slowdowns, which it believes will drive further losses for the electric vehicle maker. Yahoo Finance's Pras Subramanian breaks down the note to investors, providing an update on Tesla's Berlin gigafactory. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written and updated by Angel Smith...

**↘️** [**Tesla (TSLA)**](https://www.wsj.com/market-data/quotes/TSLA): Wells Fargo sliced its price target on Tesla to $125 with a "underweight" rating, saying price cuts were having a diminishing impact on demand...

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