Tesla shares slid Monday as Mizuho analysts trimmed their price target for the stock, pointing to weakening demand and headwinds from China, amid tariff uncertainty.

Mizuho analyst Vijay Rakesh trimmed his price target on Tesla (TSLA) this morning, asserting that the EV giant is headed for a rough sales patch in 2025. In February, the electric vehicle maker underperformed the broader market in terms of sales across all three of its key markets: China,

Tesla stock slid again Monday even as the broader market continued to pull itself out of correction territory, as shares of the electric vehicle maker led by the world’s richest man, Elon Musk, faced further pressure from Wall Street as Musk grows embedded in the White House.

Kimbal Musk, the brother of Tesla CEO Elon Musk, has been offloading shares of Tesla in recent months just as the stock has made a massive retreat from all-time highs. The electric vehicle maker, however briefly, had been among the select group of trillion-dollar companies following the stock’s post-U.S. presidential election surge.