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Bad News for Tesla: Goldman Predicts Shares Will Get Slashed in Half

Goldman Sachs (GS) Analyst David Tamberrino reiterated a "sell" rating for Tesla Inc (TSLA) , citing slowing sales growth of the company's electric cars currently on the market, CNBC reported.

Tamberrino lowered his six-month price target to $180 from $190, which is a 49% downside from Monday's close.

"We see potential for downside as the Model 3 launch curve undershoots the company's production targets," Tamberrino said. "This comes as demand for Tesla's established products (Model S and Model X) appears to be plateauing slightly below 100k annual run rate."

Tesla shares were down 1.5% in premarket trading.

What's Hot On TheStreet

Volvo is no longer feeling gas engines: Ford's (F) founder Henry Ford may be rolling over in his grave on this one. Volvo Cars said Wednesday that all of its cars will feature an electric engine from 2019, as it embraces of the new technology in the face of industry-wide adoption. The Swedish car maker will roll out a mix of all-electric, hybrid and mild hybrid cars from 2019 and will no longer...