1/16, 3:37 PM (Source: TeleTrader)
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Chart for: Tesla, Inc.

Tesla stock 4% lower after receiving 'underweight' rating

Tesla Inc.'s shares dropped more than 4% at the start of Thursday's trading session, after Morgan Stanley earlier cut its rating to underweight and increased its stock target price from $250 to $360.

Earlier in the week, Oppenheimer raised the price target to $612 per share from $385 per share. Yesterday, a group of Tesla employees started a petition to receive an increase in base pay.

The electric carmaker's stock was 3.03% lower at 9:38 am ET, selling for $503.05.

Breaking the News / MS