Tesla shares may drop further, analysts predict declines

Tesla shares rose nearly 4% on Friday but have lost value for eight consecutive weeks. Analysts from Wells Fargo and JPMorgan predict further declines, suggesting the stock could drop to around $130 and $120, respectively. The stock has lost almost half its value since a peak in December. It closed at $249.98 on Friday, significantly lower than the average analyst target of $366. Concerns about political backlash and declining sales in key markets have emerged. Tesla has also raised issues with U.S. tariffs, warning they could negatively impact the auto industry.