Goldman Sachs Lowers Tesla Price Target to $285

Goldman Sachs analyst Mark Delaney lowered the price target on Tesla (NASDAQ: TSLA) to $285 (from $295) while maintaining a Neutral rating.

“We’re lowering our Tesla vehicle delivery assumptions and EPS estimates to better reflect weaker monthly datapoints in key regions (e.g.

China, the US, and Europe), and also consumer survey data on Tesla (per HundredX and Morning Consult).Specifically on monthly datapoints by region: 1) USA – Through May, QTD deliveries are tracking down mid teens yoy per both Wards and Motor Intelligence; 2) Europe – European registration data for April shows a ~50% yoy decline, and registrations from countries with May data available indicates a mid 20% range yoy decline last month; 3) China – CPCA data in April and insurance data for May indicates a low single digit sequential increase (relative to the first two months of 1Q) but a ~20% yoy decrease compared to April plus May sales last year.We believe 2Q deliveries could end up between 335K and 395K depending on how strong June results are (with factors including the degree of incentives Tesla utilizes), and our base case view is now 365K deliveries for 2Q25 (down from our prior 410K estimate and below Visible Alpha Consensus Data at 417K).”

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