If Tesla Hits Brakes On $25K EV, It 'Would Be A Meaningful Negative For The Stock': Goldman Sachs
Portfolio Pulse from Chris Katje
Goldman Sachs analyst Mark Delaney maintains a Neutral rating on Tesla (TSLA) but lowers the price target from $190 to $175, citing disappointing first-quarter production and delivery figures. Deliveries were down 20% quarter-over-quarter and 9% year-over-year. Delaney highlights concerns over volume growth, pricing, gross margins, and the impact of potential delays in Tesla's low-cost vehicle. Despite these challenges, Delaney sees Tesla as a leader in AI and software technology in the auto space, with long-term growth potential.
April 09, 2024 | 7:04 pm
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Goldman Sachs analyst Mark Delaney maintains a Neutral rating on Tesla but lowers the price target from $190 to $175 due to disappointing first-quarter production and delivery figures.
The reduction in Tesla's price target by Goldman Sachs, based on lower than expected Q1 deliveries, signals potential short-term negative pressure on the stock. The focus on challenges such as volume growth, pricing, and potential delays in the low-cost vehicle could further impact investor sentiment negatively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100