Tesla robotaxi event light on details, says Barclays

Barclays says Tesla’s robotaxi event reflected the outcome it expected into the event. While the artificial intelligence narrative is furthered, Barclays see a long path ahead in extracting benefits, the analyst tells investors in a research note. It believes investors will likely “sell the news,” with both bulls and bears “emboldened.” Like prior Tesla product unveils, the event was light on the details, and instead emphasized the vision underpinning Tesla’s growth endeavors, contends Barclays. The firm keeps an Equal Weight rating on the shares with a $220 price target