Tesla Stock Falls Following Downgrade On Model X Concerns

NEW YORK (TheStreet) -- Tesla Motors shares fell following a downgrade from brokerage firm CLSA noting that while near-term risks remain, the longer-term outlook is bright. CLSA analyst Andrew Fung downgraded shares to underperform from outperform, cutting his price target to $220 on concerns that the Model X, Tesla's upcoming SUV, will have lower margins than expected. The Model X is slated to be introduced in the third quarter of this year. Fung said the lower margins, coupled with "Tesla's ...