Barclays cut its price target on Tesla on Thursday and said the market is finally coming around to the firm’s thesis on the automaker.
The firm also said Tesla is “stalling as a niche automaker,” and cut its 12-month price target to $150 from $192.
“Model 3 demand is stagnating in the US, the company still doesn’t have a path to significant auto profitability and solar storage installations have declined sequentially over the past two quarters,” analyst Brian Johnson said.
