Goldman Sachs Tesla · TSLA

Goldman Sachs Reiterates Neutral on Tesla, $275 Price Target

Analyst: Mark Delaney 1 min read Reproduced verbatim
Rating
Neutral
Unchanged
Target
$275
Outcome
Reached
on April 3, 2025
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What the analyst said

Goldman Sachs analyst Mark Delaney reiterated a Neutral rating and $275 price target on Tesla (NASDAQ: TSLA).

“Tesla reported preliminary 1Q25 vehicle deliveries of about 337k (down 32% qoq and down 13% yoy), and production of about 363k (down 21% qoq and down 16% yoy).

Deliveries of about 337k in 1Q25 came in well below consensus, with more recent consensus estimates in the 350-360K range (per StreetAccounts), and below Visible Alpha at 392k and GSe at 375K.

Recall that when we lowered our 1Q estimate on 3/4 to 375K (compared to Visible Alpha consensus at the time of 426K), we wrote that in order for Tesla to reach our forecast it would require a strong month of March driven by the new Model Y ramp, and we do not believe this materialized (driven primarily by downside in Europe and in the US).

We lower our estimates and price target.

We believe key focus items for investors from here will be on when the auto business can return to growth, margins (including the effect of tariffs), and the outlook for AI enabled efforts (including robotaxis/FSD and Optimus).

Please see our note for details, including consumer survey data related to Tesla.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

TSLA trades at $358. The 17 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $442. This $275 target is 38% below the median.

Since the note TSLA has moved +27% (from $283). The 12-month window closed on April 3, 2026.

Track record

This call✓ Target reached on April 3, 2025, 0 days after the note.

Firm track recordGoldman Sachs: 78% of its 37 targets at least a year old were reached within 12 months (#17 of 26 firms); on Tesla, 6 of 7. Accuracy ranking →

Goldman Sachs on Tesla

Goldman Sachs price targets on Tesla

8 calls from December 16, 2025 to October 22, 2026. The target went from $400 to $360 (−10%). The rating stayed Hold.

Goldman Sachs targetTSLA share price
  1. October 22, 2026Kept the $360 targetHold$360
  2. October 6, 2026Kept the $360 targetHold$360
  3. September 15, 2026Target cut from $375 (−4%)Hold$360
  4. June 16, 2026Kept the $375 targetHold$375
  5. April 23, 2026Target cut from $405 (−7%)Hold$375
  6. January 29, 2026Target raised from $400 (+1%)Hold$405
  7. December 17, 2025Kept the $400 targetHold$400
  8. December 16, 2025Earliest call shownHold$400
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Other analysts on Tesla

CantorBuy Kept rating and price target Oct 26 $485maintained BarclaysBuy Upgraded, raised price target +22% Oct 26 $450from $370 StoneXBuy Kept rating and price target Oct 22 $475maintained BNP ParibasHold Upgraded Oct 22 Morgan StanleyHold Raised price target +2%, kept rating Oct 22 $410from $400
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.