As previously reported, Argus downgraded Tesla (TSLA) to Hold from Buy with no price target The stock “appears to be currently trading on non-fundamental events,” says the analyst, who is concerned that the “war of words” between President Trump and Tesla CEO Elon Musk, along with expiration of EV credits, could further weaken demand for new Teslas. While the firm believes AI-related projects such as Cybercab and Optimus are positive for the company and its valuation, it believes a near-term Hold rating is “prudent at this time,” the analyst tells investors.
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