Goldman Sachs Reiterates Neutral on Tesla, $360 PT
Goldman Sachs analyst Mark Delaney reiterated a Neutral rating and $360 price target on Tesla (NASDAQ: TSLA)
“We believe that Tesla’s 3Q26 vehicle deliveries are tracking below consensus (at 456K per Visible Alpha) and our prior view, and we lower our forecast to 435K from 490K.
This is based on monthly and/or weekly sales datapoints for key regions (e.g.
China, the US, and Europe), and we think that all three regions are tracking slower than we had previously expected.
However, some regions lled via exports from China (e.g. SE Asia, South America, Australia) are showing strength on yoy basis, which we think will partly mitigate the weakness.
However, typical seasonality in 4Q, plus the Model Y L ramp in the US and Europe, has the potential to help 4Q26 to improve qoq. We also think that FSD can be a driver of demand.
We now model 475K deliveries in 4Q26, down from 515K prior, but above consensus at 462K.”
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