Tesla shares edged higher in early Friday trading, but have lost nearly have of their value since mid-December, and a top Wall Street analyst suggests there could be more declines ahead tied to weakness in the group's core automaking business.

Another analyst cut a target price for Tesla stock because car business fundamentals are “spoiling razzle-dazzle momentum.” The price target cuts are piling up. On Friday, Wells Fargo analyst Colin Langan cut his Tesla price target to $130 from $135.

Although Elon Musk-led Tesla (TSLA) initially sourced to new record highs following the reelection of President Donald Trump, the last few months have been a nightmare for TSLA stock. Trading almost at a more-than-50% discount to its 52-week high,