Tesla price target lowered to $180 from $350 at Jefferies

Jefferies analyst Philippe Houchois lowered the firm’s price target on Tesla to $180 from $350 and keeps a Buy rating on the shares. While Houchois believes Tesla is leading the industry towards a better business model, the trajectory is "bumpier than we would like," the analyst tells investors in a research note. The appointment of insider Tom Zhu as the No. 2 executive looks positive at this stage, the analyst contends.