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