Analyst Downgrades: Tesla Motors, Michael Kors, Nokia

Analysts are weighing in today on electric automaker Tesla Motors Inc (NASDAQ:TSLA), accessories designer Michael Kors Holdings Ltd (NYSE:KORS), and telecom concern Nokia Corporation (ADR) (NYSE:NOK). Here's a quick roundup of today's bearish brokerage notes on TSLA, KORS, and NOK.

• TSLA was hit with a price-target cut to $165 from $175 at J.P. Morgan Securities, which also reiterated its "underweight" rating. The bearish note isn't particularly surprising, given the stock's 7% year-to-date deficit to trade at $206.79. In fact, additional price-target reductions and/or potential downgrades could come down the pike for Tesla Motors Inc. Right now, the equity's consensus 12-month price target of $262.38 represents a 27% premium to current trading levels, as well as territory not explored since last October. Also, the majority of covering analysts still rate the technical underperformer a "buy" or better.


• Mizuho Securities weighed in on a number of fashion names, including KORS, with the brokerage firm lowering its outlook to "neutral" and its price target to $70. On the charts, Michael Kors Holdings Ltd has struggled greatly, plunging nearly 30% year-over-year, ushered lower by its 10-week moving average in 2015. In fact, the stock is sitting just above its annual low of $62.65, skimmed last week. Not surprisingly, bears have been upping the ante at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) in recent weeks. KORS' 10-day put/call volume ratio across these exchanges is 0.97, in the 71st percentile of its annual range. Ahead of the bell, the stock is down 0.6%.


• Finally, NOK is sitting on a 0.7% pre-market deficit, after receiving a downgrade to "hold" from "buy" at Jefferies (though the firm upped its price target to 7.87 euros). This bearish recommendation is par for the course, as two-thirds of analysts tracking Nokia Corporation have given it a "hold" or worse endorsement. On the charts, the equity has been wavering in the $7.50-$8.50 area for the better part of the past six months, and at $7.62, is down 3% year-to-date. Even recent buyout news has failed to lift NOK out of this technical range. Meanwhile, rumors are circulating that the firm could be ready to throw its hat back in the mobile phone ring as early as next year.