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.

Wood sees robotaxis as an $8 trillion to $10 trillion opportunity that could transform Tesla from an auto manufacturer to a software company. She predicts autonomous vehicles will boost Tesla’s gross margins from the current 16% to up to 90%, according to Fortune.