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The high sticker price of Tesla’s long-awaited SUV drew criticism this week and even prompted Wall Street’s biggest bull to take a tiny step back in his enthusiasm for the carmaker’s stock.

Morgan Stanley’s Adam Jonas lowered his price target on Tesla from $465 to $450 this week, based on the Model X’s high sticker price of $120,000 to $130,000 negatively impacting his 2016 to 2018 unit sales projections. The cut comes not even two months after he ratcheted up his target from $280 to $465 on August 17 and made the stock a Top Pick, and the reduction is cosmetic at best.



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