Goldman Sachs has revised Tesla’s price target downward to $190 from $220, maintaining a ‘Neutral’ rating.
Analyst remarks: “We are adjusting our Tesla forecasts to align more accurately with what we perceive as challenges in production (such as the pace of Model 3 ramp-up and interruptions in Berlin due to the Red Sea conflict/power loss) and prevailing market pressures.”
“Delivery projections in crucial regions from third-party sources (e.g., CPCA and Motor Intelligence) indicate a high single-digit year-over-year increase and a low double-digit quarter-over-quarter decrease in the first two months of the quarter.”
Goldman Sachs has revised down its delivery projections, now anticipating Tesla to deliver 435,000 vehicles in Q1, a decrease from the previous estimate of 475,000.
The total vehicle delivery forecast for 2024 has been adjusted downward to 1.98 million, reflecting a 9.5% year-over-year increase, down from the previous expectation of 2.08 million.
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