Goldman raises Tesla stock target to $248 after strong Q2 deliveries

From Investing.com: 2024-07-10 07:29:02

Goldman Sachs analysts have raised their estimates and price target for Tesla, increasing the target to $248 following strong Q2 deliveries. Despite a Neutral rating, Q2 deliveries of 444,000 vehicles exceeded expectations. Production was around 411,000 vehicles, surpassing previous estimates. Key debates now focus on vehicle pricing and margins, with concerns over production and financing incentives impacting margins. Looking ahead, Tesla’s lower-cost models are anticipated to boost market share and volumes. Progress with Full Self-Driving technology and upcoming robotaxi events suggest potential revenue opportunities. Goldman Sachs views Tesla as a leader in AI and software technology within the automotive sector.



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