Tesla(US:TSLA) Zhi Tong Cai Jing·2025-06-10 04:33Core Viewpoint - Tesla (TSLA.US) has recently faced downgrades from two Wall Street firms to a "neutral" rating, highlighting short-term uncertainties and market concerns regarding the upcoming Robotaxi launch [1] Group 1: Rating Downgrades - Baird and Argus analysts have removed their bullish ratings on Tesla, citing market instability and reputational risks stemming from public disputes involving CEO Elon Musk and former President Trump [1] - Baird's analyst Ben Kallo noted that the recent conflict underscores the key person risk associated with Musk's political activities, adding uncertainty to Tesla's outlook and raising concerns about brand damage [1] Group 2: Market Expectations and Competition - Kallo expressed that the market has overly high expectations for the Robotaxi business, indicating that the challenges in advancing this initiative will likely exceed expectations, with profitability potentially falling short of overly optimistic investor estimates [1] - Argus analyst Bill Selesky pointed out that Tesla's stock price is currently influenced by "non-fundamental events," and the expiration of electric vehicle tax credits may further weaken demand for Tesla's new vehicles [1] Group 3: Delivery Forecast Adjustment - Kallo has revised the delivery forecast for the second quarter of 2026 from 404,800 units to 377,000 units, reflecting the impact of the cancellation of electric vehicle tax credits [2]