J.P.Morgan cut its price target on Tesla's stock as the brokerage expects a second straight year of lower deliveries, with analysts also pointing to a change in sentiment toward the EV maker from existing customers and potential new buyers.

After weeks of downturns on Tesla J.P. Morgan has lowered its price target on Tesla’s stock. This is mainly because the company thinks that fewer cars will be delivered for the second year in a row. Analysts also say that current and possibly new customers are feeling differently about the electric vehicle maker.

Tesla rebounded Wednesday despite more price target cuts as analysts slash delivery and earnings estimates, citing brand "destruction"