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Entered2024.04.10 00:58 Modified2024.04.10 00:58
Photo = Yonhap News src = Goldman Sachs lowered its forecast after Tesla’s first-quarter deliveries fell short of Wall Street estimates.
According to CNBC on the 9th (local time), Goldman Sachs reaffirmed its neutral investment view on Tesla and lowered its target price from $190 per share to $175. This represents an upside of about 1.1% from Monday’s close of $172.98.
Goldman Sachs also lowered its earnings per share forecasts for 2024, 2025 and 2026 from $2.15, $3.80 and $5 to $1.90, $3.25 and $4.45.
“Our positive view of Tesla’s long-term growth potential and market position is offset by its higher-than-expected valuation and weak near-term fundamentals, so we maintain a Neutral rating on the stock,” the analyst said. Mark Delaney. He added, “The main downside risks we are considering are larger-than-expected vehicle price cuts, intense competition in the electric vehicle industry, delays in FSD (full self-driving) and 3rd generation platforms and features, risks to key personnel, and high levels of internal vertical disruption.” “It’s the management environment, the margins and the operational risks associated with integration,” he added.
Tesla stock prices have fallen 30.4% this year.
Reporter Eom Soo-young boram@wowtv.co.kr
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