NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares are down 2% to $219.21 in trading on Monday following a Friday report from Global Equities Research analyst Trip Chowdhry suggesting that the Elon Musk-headed electric vehicle company would be delaying the delivery of its P85D sedan until next week.
The company is scheduled to deliver the vehicle on Wednesday, but Chowdhry believes that Tesla is waiting for new stickers with updated EPA driving range estimates. To support his claim Chowdhry posted pictures of the new stickers which showed an EPS driving range of 242 miles that was less than the 285 miles Tesla had claimed the vehicle was capable of at its launch.
The P85D is the new version of Tesla's Model S P85 sedan that features dual motor enabled all wheel drive among other upgrades.
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TheStreet Ratings team rates TESLA MOTORS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow and generally high debt management risk."