Tesla moved lower in early Tuesday trading after a top Wall Street analyst issued a bullish note on the electric-vehicle group's near-term prospects but added a dash of caution tied to the risks it faces in achieving its broader ambitions.

Tesla stock has hit a rough patch in recent weeks, but top analysts still see big gains ahead for the EV maker's stock this year.

BofA Securities analyst John Murphy downgraded shares of electric-vehicle maker Tesla to Hold, but his new target price implies about 17% upside.

President-elect Donald Trump's proposed tariff policy has raised investor concerns about its potential impact on industries, including electric vehicles (EVs), particularly for companies like Tesla (TSLA).

Tesla (TSLA) shares fell on Tuesday after a Bank of America analyst downgraded the stock from Hold to Buy. TSLA was trading 3.91% lower at 12:26 pm after showing some erratic behavior in early trading.