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.

Baird downgraded Tesla stock on Monday after Elon Musk's feud with President Donald Trump.Musk criticized Trump's tax bill, leading to threats against Musk's government contracts.Baird said the spat led to concerns of "brand damage" to Tesla.

Tesla shares are rising in premarket trading Tuesday after gaining more than 8% over the past two sessions in the wake of last week's public spat between CEO Elon Musk and President Donald Trump.