Optimistic outlook on Tesla shares-Goldman Sachs
2022.12.14 07:52
Optimistic outlook on Tesla shares-Goldman Sachs
Budrigannews.com – Tesla (NASDAQ:) received a buy rating from Goldman Sachs once more. and lowered the price target from $305.00 to $235.00 as a result of lower estimates in order to take into account lower supply and demand.
Goldman now anticipates 1.85 million units in 2023, up from 1.95 million in the previous quarter, and 420 thousand deliveries in the fourth quarter of 222. In addition, they now anticipate a slight sequential decline in non-GAAP gross margin in 4Q22 compared to 3Q22 as a result of Tesla’s pricing and incentive measures implemented during the quarter.
Due to lower units, lower vehicle ASPs, and lower margins, Goldman Sachs lowered its 2022/2023/2024E EPS estimates with SBC to $3.60/$4.50/$5.60 from $3.73/$4.90/$6.00. SBC Goldman Sachs models 2022, 23-24, and 25 have EPS of $4.05, $6.20, and $7.65, respectively.
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“Media reports such as one from Bloomberg have noted that with the CEO, Elon Musk, currently taking a larger role on Twitter and political topics, Tesla’s brand has become more polarizing,” analysts wrote in a note.
We accept that Tesla’s image has critical worth connected with the organization’s administrative role in clean energy and cutting edge innovation. We believe that if Tesla is to meet or exceed long-term investor expectations for Tesla, it will be important for consumers to focus on these fundamental aspects of sustainability and technology again.
Wednesday morning in pre-market trading, TSLA shares are down 0.43 percent.
