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Goldman Sachs and Morgan Stanley downgrade Tesla, saying the stock has gotten ahead of itself

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A Tesla Model S is displayed during the London Motor and Tech Show at ExCel on May 16, 2019 in London, England.
John Keeble | Getty Images

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Shares of Tesla have more than doubled this year, and two major analysts now say the stock has gotten ahead of itself. Morgan Stanley and Goldman Sachs both downgraded the electric vehicle maker on Friday saying the valuation appears stretched, while also pointing to headwinds including competition from Big Tech eyeing the autonomous vehicle industry.

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