Wells Fargo analyst Colin Langan reports that based on available U.S., EU, South Korea and China sales data, Tesla (TSLA) October deliveries are trending down 23% year-over-year, 54% month-over-month and 9% year-over-year-to-date and that the weakness is “widespread” across the four major markets it tracks, with North America being “most benign.” The firm keeps an Underweight rating and $120 price target on Tesla shares.
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