From Barchart: 2025-06-10 08:47:00

Tesla (NASDAQ:TSLA) downgraded to Neutral by Baird analysts due to near-term uncertainty and concerns about the robotaxi program and Elon Musk’s political associations. Stock fell 1.8% in pre-market trading. Valuation seen as ahead of fundamentals, with risks including political ties, key-person risk, and competition in autonomous vehicle space.

Baird projects only 6,000 robotaxis by 2023, far below Musk’s promise of hundreds of thousands. Competition intensifying, profitability may be lower than expected. Delivery forecasts revised lower by Baird: Q2 2025: 377,000 units, FY2025: 1.72 million units, FY2026: 2.19 million units. EV tax credit removal could impact buyer sentiment.

Despite the downgrade, Baird still sees Tesla as a long-term core holding, especially in robotics and autonomous mobility. They are waiting for better alignment between narrative, delivery pipeline, and brand clarity before fully endorsing the stock.



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