Tesla shares slide premarket as Goldman Sachs slashes price target to $158 from $200

Tesla Inc. shares TSLA, +0.75% fell 1.5% in premarket trade Thursday, after Goldman Sachs slashed its stock price target to $158 from $200 on concerns the company can meet estimates for the second half and beyond. Analysts led by David Tamberrino said they expect the second quarter to be fine and come close to FactSet consensus for volumes, estimates for the second half look high, "considering there are fewer levers to pull to stoke demand going forward .

Investors should be asking what are the sustainable levels for Model S, Model X and Model 3, they wrote, and how will that change with the introduction of the Model Y, which will likely cannabalize part of the customer base for other models.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla investors regain confidence in a quieter Elon Musk as all eyes turn to productionTesla investors are regaining confidence in a quieter Elon Musk — even as they question the company's ability to hit its production goals for the second quarter. We all know he’s going to make things happen 🙌
Source: CNBC - 🏆 12. / 72 Read more »

Electric dreams in danger as funding dwindles for China's Tesla challengersLast year, Wei Qing and his private equity investment team visited more than 20 ...
Source: Reuters - 🏆 2. / 97 Read more »