JP Morgan cuts price target for Tesla as deliveries drop for 1st time in 2 yrs

JP Morgan analysts cut their price target for Tesla shares by $10 to $385 as it reported fall in deliveries for the first time in two years. The analysts said Tesla's production and financial results could be affected by execution issues at its new factories in Texas and Berlin. Recently, CEO Elon Musk described both factories as "gigantic money furnaces".