- Tesla Motors (NASDAQ:TSLA) is cut to an Underperform rating by CLSA.
- Snippets from the analyst note are below.
- "Based on discussions with the company and initial margins for the Model S, we believe Model X margins in 2H15 will be more dilutive than previously thought."
- "We believe the stock could continue to underperform this year, as investors debate Tesla's demand and earnings trajectory."
- "Longer term, though, we continue to believe the stock is attractive."
- CLSA lowers it price target to $220 from $275.
- TSLA -1.69% premarket to $198.32.