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S&P says Tesla’s stock (TSLA) rallied because of upcoming Model 3 event, but doesn’t deserve the valuation

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Tesla’s stock (TSLA) is down almost 5% today following a downgrade from S&P Global Market Intelligence. S&P analyst Efraim Levy issued a new note today downgrading Tesla to “sell” with a new price target of $155, while the stock currently trades at ~$223.

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