Another analyst cut a target price for Tesla stock because car business fundamentals are “spoiling razzle-dazzle momentum.” The price target cuts are piling up. On Friday, Wells Fargo analyst Colin Langan cut his Tesla price target to $130 from $135.

Tesla shares edged higher in early Friday trading, but have lost nearly have of their value since mid-December, and a top Wall Street analyst suggests there could be more declines ahead tied to weakness in the group's core automaking business.

J.P.Morgan cut its price target on Tesla's stock as the brokerage expects a second straight year of lower deliveries, with analysts also pointing to a change in sentiment toward the EV maker from existing customers and potential new buyers.