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Tesla (TSLA) Stock Loses Steam After Barclays Downgrade

NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) stock is plunging 2.95% to $220.03 in early morning trading on Friday after analysts at Barclays lowered their rating to "underweight" from "equal weight" and cut their price target to $180 from $190.

Analysts pointed out several upcoming challenges in the next coming months, saying that the launch of Model X did not drive up shares as they had expected, according to the firm's note.

Additionally, the firm is concerned that the Palo-Alto, CA-based electric car maker will have trouble keeping up with demands for the Model X.

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As a result, Tesla may miss this year's delivery guidance, analysts noted.

Separately, CEO Elon Musk made a comment about tech giant Apple (AAPL)in an interview with German newspaper Handelsblatt yesterday, saying that Apple is the "Tesla Graveyard," since it has engineers that Tesla fired.

Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a...


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