Tesla fires may fuel stock drop

Investor's Business Daily

Barclays cut its price target on the electric-car maker to 120 from 141, saying publicity surrounding Tesla Motors' (TSLA) recent Model S fires will likely hurt sales. The research firm cited other probes and recalls like ones involving Audi in the '80s and Toyota (TM) in '10, which resulted in a 10%-20% sales hit regardless of whether the allegations were proven. Tesla shares fell 4% to 121.11 On Tues. Tesla rose 4% Tue. after founder Elon Musk said the focus on the fires was unfair.

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