Posted 9/18/2023, 2:42:49 PM

Goldman Sachs Sees Margin Pressure for Tesla Ahead Despite Growth Potential

Goldman Sachs analyst thinks Tesla will continue price cuts in 2024 to boost volumes, hurting margins.
Analyst lowered 2023 delivery outlook to 1.842M vehicles due to weaker S/X demand.
Lowered 2023/2024 EPS estimates to $2.90/$4.15 on lower ASPs and auto gross margin.
Goldman remains Neutral rated due to near-term margin headwinds and long-term growth potential.
Average analyst price target of $270 suggests limited upside for Tesla stock.

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Relevant topic timeline:

8/27/2023

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9/2/2023

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9/4/2023

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9/6/2023

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9/11/2023

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9/14/2023

Tesla Boosts Sales With Price Cuts But Squeezes Margins, Raising Questions About Future Profit Growth

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9/18/2023

Tesla Stock Slips as Goldman Cuts Profit View on Price Cuts, Musk Denies Saudi Factory Talks

Goldman Sachs lowers its profit outlook for Tesla due to lower average selling prices and predicts that the company may cut vehicle prices in 2024 to maintain high volumes, leading to a decrease in Tesla stock.

9/22/2023

Tesla Stock Could Rally if Q3 Deliveries Beat Barclays' Conservative Forecast

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