Latest news with #BenKallo
Yahoo
3 days ago
- Automotive
- Yahoo
Top Analyst Cuts Tesla to 'Hold' as Robotaxi Optimism Faces Scrutiny
June 10- Robert W. Baird analyst Ben Kallo downgraded Tesla (NASDAQ:TSLA) to a "Hold" rating from "Buy". Kallo maintained his price target of $320 per share. This marks the analyst's first downgrade for the electric vehicle maker in three years. Kallo cited concerns over "heightened expectations" surrounding Tesla's upcoming robotaxi launch event. He also highlighted potential "key-man risk" related to CEO Elon Musk's activities and associations. The analyst noted TSLA stock has surged over 20% since first-quarter results, likely reflecting existing optimism about the robotaxi and a more affordable vehicle. The analyst expressed skepticism about the projected speed of the robotaxi service rollout, describing it as potentially "a bit too optimistic." Tesla was recently listed by Austin, Texas, authorities as being in the "testing" phase for autonomous vehicles. Competitor Waymo is listed in the "deployment" phase in the same city. Kallo's decision also factored in increased competition, potential changes to vehicle delivery timelines, and the gradual reduction of electric vehicle tax credits. Despite the downgrade, Tesla shares rose about 3% in pre-market trading on Tuesday. This movement coincided with the apparent easing of tensions between Musk and former President Donald Trump, who recently confirmed continued use of Tesla products. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
3 days ago
- Automotive
- Yahoo
Can Elon Musk Deliver With the Robotaxi Reveal?
Ben Kallo, Baird senior research analyst, talks about why he downgraded Tesla Inc. stock to neutral from outperform. Tesla is set to start its robotaxi service in Austin, Texas on June 12. Kallo says the the stock's valuation has "gotten ahead of itself" and the rollout will be harder than expected. He's on "Bloomberg Surveillance." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Automotive
- Yahoo
Top Analyst Cuts Tesla to 'Hold' as Robotaxi Optimism Faces Scrutiny
June 10- Robert W. Baird analyst Ben Kallo downgraded Tesla (NASDAQ:TSLA) to a "Hold" rating from "Buy". Kallo maintained his price target of $320 per share. This marks the analyst's first downgrade for the electric vehicle maker in three years. Kallo cited concerns over "heightened expectations" surrounding Tesla's upcoming robotaxi launch event. He also highlighted potential "key-man risk" related to CEO Elon Musk's activities and associations. The analyst noted TSLA stock has surged over 20% since first-quarter results, likely reflecting existing optimism about the robotaxi and a more affordable vehicle. The analyst expressed skepticism about the projected speed of the robotaxi service rollout, describing it as potentially "a bit too optimistic." Tesla was recently listed by Austin, Texas, authorities as being in the "testing" phase for autonomous vehicles. Competitor Waymo is listed in the "deployment" phase in the same city. Kallo's decision also factored in increased competition, potential changes to vehicle delivery timelines, and the gradual reduction of electric vehicle tax credits. Despite the downgrade, Tesla shares rose about 3% in pre-market trading on Tuesday. This movement coincided with the apparent easing of tensions between Musk and former President Donald Trump, who recently confirmed continued use of Tesla products. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
3 days ago
- Automotive
- Yahoo
Top Analyst Cuts Tesla to 'Hold' as Robotaxi Optimism Faces Scrutiny
June 10- Robert W. Baird analyst Ben Kallo downgraded Tesla (NASDAQ:TSLA) to a "Hold" rating from "Buy". Kallo maintained his price target of $320 per share. This marks the analyst's first downgrade for the electric vehicle maker in three years. Kallo cited concerns over "heightened expectations" surrounding Tesla's upcoming robotaxi launch event. He also highlighted potential "key-man risk" related to CEO Elon Musk's activities and associations. The analyst noted TSLA stock has surged over 20% since first-quarter results, likely reflecting existing optimism about the robotaxi and a more affordable vehicle. The analyst expressed skepticism about the projected speed of the robotaxi service rollout, describing it as potentially "a bit too optimistic." Tesla was recently listed by Austin, Texas, authorities as being in the "testing" phase for autonomous vehicles. Competitor Waymo is listed in the "deployment" phase in the same city. Kallo's decision also factored in increased competition, potential changes to vehicle delivery timelines, and the gradual reduction of electric vehicle tax credits. Despite the downgrade, Tesla shares rose about 3% in pre-market trading on Tuesday. This movement coincided with the apparent easing of tensions between Musk and former President Donald Trump, who recently confirmed continued use of Tesla products. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Automotive
- Bloomberg
Can Elon Musk Deliver With the Robotaxi Reveal?
Ben Kallo, Baird senior research analyst, talks about why he downgraded Tesla Inc. stock to neutral from outperform. Tesla is set to start its robotaxi service in Austin, Texas on June 12. Kallo says the the stock's valuation has "gotten ahead of itself" and the rollout will be harder than expected. He's on "Bloomberg Surveillance." (Source: Bloomberg)
