shares of tesla inc tsla dropped 27 in premarket trading tuesday after daiwa capital analyst jairam nathan reiterated his outperform rating on the electric vehicle maker but cut his price target to 800 from 1150 citing covid19related lockdowns in shanghai and supply chain concerns impacting the rampup of its austin and berlin plants he also cut his 2022 earnings per share estimate to 930 from 1450 compared with the factset consensus of 1214 nathan noted that tesla shut down production at its facility in shanghai for three weeks due to lockdowns and restarted operations at half capacity in midapril with reports saying normal operations will resume sometime this week with about 13000 units of production per week and higher than average margins any production loss at shanghai is bound to have a significant impact on margins and earnings nathan wrote in a note to clients tesla derived 248 of its firstquarter revenue from china he also cited concerns over the negative impact of chief executive elon musks proposed buyout of twitter inc twtr  either on management of tesla or on the stock from a potential divestment teslas stock which was on track to open below the 10month closing low of 66390 on friday has tumbled 361 year to date through monday while the sp 500 spx has lost 166