Morgan Stanley has lowered its price target on Tesla for the second time in two months.

Business Insider reports that analysts at the investment bank and financial services company lowered their price target from $283 to $260.

Morgan Stanley anticipates that Tesla may be approaching softer demand faster than expected.

"At a high level, a number of recent events at the company are raising questions in the minds of investors… including statements by Elon Musk"

Adam Jonas Morgan Stanley analyst

The firm's new price target anticipates a drop of up to 11% from Monday's closing price.

In early February, Morgan Stanley slashed its price target for the electric car company from $291 to $283.


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NBA 21 Nov 2019 05:49 CET