Investing.com - Tesla (NASDAQ:TSLA) inched down in midday trade Monday after a downgrade ahead of its earnings report this week.
Roth Capital downgraded the luxury carmaker to neutral from buy due to risks from increasing battery costs and competition from other automakers.
“We expect the shares of TSLA to remain range bound until these issues are resolved," Roth’s Craig Irwin wrote in a note.
Tesla reports its earnings after the bell on Wednesday, with investors expecting a loss of $0.41 per share on $6.52 billion in revenue. Its deliveries forecast will also be closely watched to see if the company is still on track to deliver 360,000 to 400,000 vehicles this year as promised.
Tesla slipped 0.5% in midday trade.
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