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Tesla shares dive 7 percent; still above analysts' target price

The Tesla corporate logo is pictured at a Tesla electric car dealership in Sydney, Australia, May 31, 2017.

Tesla Inc shares slid more than 7 percent on Wednesday, their biggest percentage decline in more than a year, on poorer-than-expected delivery numbers, yet the luxury electric carmaker's stock price remained above analysts' median target.

Silicon Valley-based Tesla overtook General Motors in April to become the U.S. carmaker with the largest market capitalization.

On Wednesday, its shares fell 7.2 percent to $327.09, its lowest in more than a month. Its biggest daily percentage fall since June 22, 2016, followed a 2.5 percent decline on Monday, when first-half deliveries of Tesla electric sedans and SUVs came in the lower end of its forecast.

Tesla said a "severe shortfall"...


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