Morgan Stanley And Goldman Sachs Downgrade Tesla

The $1,000 handle for Tesla may turn out to be short-lived, as investment banks Morgan Stanley and Goldman Sachs have both downgraded the equity since yesterday's close. Perpetual bull Adam Jonas at MS downgraded Tesla from Equalweight to Underweight with a price target of $650.00, down from $680. Among his concerns, Jonas noted capital needs and near-term demand - issues we feel like we have been hearing about for years, all the while Tesla stock has squeezed higher and higher. "We're Underweight due to our concerns around China, competition,…