Bernstein ($STESX ) has raised the price target for Tesla ($TSLA (-4%) ) from 150 to US dollars and rates it "underperform", citing declining demand as the reason, which is due to Europe and China.

Bernstein expects growth to be weak and growth is even being called into question for the coming year.

Bernstein has also lowered its estimates for deliveries in the first quarter and for the year as a whole.