Summary
Emmanuel Rosner downgraded the electric-vehicle maker to hold from buy. He also slashed his price target to $123 from $189. The new forecast implies downside of 20.9% over the next 12 months. Rosner: "The fact that Mr. Musk announced an unveiling of Robotaxi for Aug 8 in no way means the technology is ready" Tesla is the second-worst performer in the S & P 500 this year.
