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.

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 (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.

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