Bearish Outlook: Wells Fargo Cuts Tesla Target Despite Robotaxi Hype

Wells Fargo forecasts a sharp decline in Tesla’s stock, setting a $120 price target—61% below its recent close—citing a weakening core auto business and aggressive financing promotions that act like price cuts.

Despite excitement around Tesla’s robotaxi launch, the bank warns this debut won’t offset declining deliveries, especially amid rising competition in China. Tesla’s shares have already fallen over 22% in 2025, reflecting ongoing challenges in its automotive segment.

Clever Robot News Desk 15^th June 2025