Goldman Sachs analysts have reduced Tesla's price target from $295 to $285 and maintained a Neutral rating in the wake of disappointing sales figures across key markets. Tesla shares have seen a significant drop of nearly 18% over the past week, with specific concerns about delivery declines in the U.S., Europe, and China. Latest reports indicated a 50% fall in European sales in April, while the U.S. saw mid-teen percentage drops. While Goldman projects a decline in second-quarter deliveries, Tesla's overall financial performance remains robust, indicating its resilience in a highly competitive landscape.
Tesla's sales are declining across major global markets, leading Goldman Sachs to cut its price target for the company's stock to $285.
Despite projected decreases in deliveries, Tesla continues to maintain strong financials with significant revenue and market capitalization that underscore its prominent position.
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