Tesla Stock Slides Tuesday as Tariffs Take Effect, BofA Drops Price Target | Global News Avenue

Tesla (TSLA) Stocks fell Tuesday, with Bank of America analysts lowering its stock’s target targets, which in turn extended recent losses due to concerns about tariffs, weak Chinese sales and concerns over sweet and sour brand sentiment.

The electric car maker’s stock fell more than 4% to close at $272.04, losing about a third of its value since the beginning of the year.

Trump administration tariffs on Canada and Mexico, this is Effective TuesdayBank of America analysts say North American automakers, including Tesla, “pose a significant risk.”

They say the decline in European sales has also put pressure on stocks as CEO Elon Musk makes headlines in the Trump administration. Ministry of Government Efficiency. Sales of Tesla’s Chinese-made vehicles also fell, down 49.2% year-on-year in February Reuters The report said data from the China Passenger Car Association was cited on Tuesday.

BOFA reiterated the stock’s “neutral” rating, but lowered its target target from $490 to $380, slightly higher than the average of analysts surveyed by Visible Alpha ($368).

Morgan Stanley named the company “First choice“In the U.S. automotive industry, saying Tesla’s delivery is not a “special change in narrative” than expected.

Updated – March 4, 2025: This article has been updated since its first release to reflect the newer share price value.