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Fortune

Christiaan Hetzner

Tesla's fall from grace may have no equal, says JPMorgan: 'We struggle to think of anything analogous'

Tesla Inc. JPMorgan Ryan Brinkman United States Donald Trump Elon Musk

US President Donald Trump and Tesla CEO Elon Musk speak to the press as they stand next to a Tesla vehicle on the South Portico of the White House. (Credit: Mandel Ngan—AFP via Getty Images)

The current backlash against Tesla across the U.S. and Europe likely has no comparison in the history of the automobile industry, the bank warned, slashing its first-quarter delivery forecast to 355,000 vehicles and reducing its price target to $120 per share.

Once again, Tesla CEO Elon Musk may have made history, though it’s not the kind of record he likely was aiming for this time.

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