Guggenheim on Tuesday maintained its sell rating on Tesla (TSLA, Financials) and a $175 price target, signaling the stock could drop 48% from current levels, after the company's June 22 launch of Robotaxi operations in Austin.
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The firm cited CEO Elon Musk's announcement that the service will open to the public next month, earlier than many investors expected, following positive feedback from invite-only riders. Guggenheim analyst Ronald Jewsikow said the move is a key step toward expanding Tesla's full self-driving model into a broader Robotaxi fleet.
Tesla shares have fallen 16% year to date but edged less than 1% higher in premarket trading Tuesday.
This article first appeared on GuruFocus.
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Guggenheim Reaffirms Sell on Tesla Ahead of Austin Robotaxi Launch
Published 2 months ago
Aug 14, 2025 at 12:15 PM
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