Goldman Sachs Reiterates Tesla’s $375 Price Target

Goldman Sachs analyst Mark Delaney reiterated a Neutral rating and $375.00 price target on Tesla (NASDAQ: TSLA).

“We believe that Tesla’s 2Q26 vehicle deliveries are likely tracking ahead of consensus (at 400K per Visible Alpha), and we raise our forecast to 420K from 405K.

This is based on monthly and/or weekly sales datapoints for key regions (e.g. China, the US, and Europe), with Europe in particular showing strong yoy growth.

We also show survey data on Tesla by region (e.g. HundredX and Morning Consult).

Specifically on monthly datapoints by region: USA – Through May, QTD deliveries are tracking down mid-teens yoy per Motor Intelligence.

Europe – European registration data QTD through May shows a ~85-90% yoy increase, and registrations from countries with June daily data available indicates a strong start to June (with MTD data up ~20% in those countries).

We’d attribute a portion of the increase to a low base (as 2Q25 deliveries were down 29% yoy). APAC – In China, CPCA data through May indicates high single digit yoy growth.

We note that some other APAC countries (e.g. Korea and Australia) have had strong sales data as well, both on a yoy and qoq basis through May.”

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.

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.