Tesla ( TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.

Tesla stock extended its rally for a fourth straight session Wednesday as tensions between Musk and President Trump appeared to ease.

Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.