HSBC Just Slashed Its Price Target on Tesla (TSLA) Stock to New Street Low

Tesla (NASDAQ:TSLA) stock is in the news Monday after the electric vehicle (EV) company’s price target was cut by HSBC analysts to a new street low.The HSBC analysts dropped the firm’s price target for TSLA from $130 per share to $118 per share. That’s a potential 46.3% downside from the prior closing price for the stock. It’s also well below the analysts’ consensus price prediction of $204.30 per share.HSBC also continues to maintain its “reduce” rating for TSLA stock. That’s more bearish than the analysts ...