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UBS Downgrades Tesla to Sell, Citing Valuation Concerns Following Robotaxi Delay and Subdued Auto Expectations
ByAinvest
Friday, Jul 12, 2024 4:14 am ET1min read
Tesla's stock fell by 8% following a Bloomberg report on the postponement of the Robotaxi launch from August to October. UBS downgraded Tesla's stock to Sell due to concerns over its valuation. While Tesla is investing in AI, the cost is high, and the payoff is long term. UBS analysts suggested that for the stock to justify a Buy rating, a larger opportunity is needed.
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