JPMorgan walks back its enthusiasm for Tesla's go-private bid, says 'funding appears to not have been secured' (TSLA)

John Raoux / AP Images JPMorgan has walked back some of its previous excitement about Tesla's bid to go private. The bank cut its price target to $195 — 35% below its current level — after realizing no funding had actually been secured. "Such process appears much less developed than we had earlier presumed," the bank told clients Monday. Shares of Tesla sank to a three-month low, following the price cut, but have since reversed into positive territory. Follow Tesla's stock price in real-time...