TSLA - Goldman Sachs Expects More Tesla Price Cuts Lowers Earnings Estimates Amid Grim Margin Headwinds | Benzinga
Goldman Sachs cut its earnings estimates for Tesla Inc (NASDAQ: TSLA) on Monday to reflect lower average selling prices and gross margins.
What To Know: Goldman Sachs analyst Mark Delaney remains Neutral on Tesla and maintains a price target of $275 on the stock even though he lowered earnings expectations.
Tesla has repeatedly lowered prices on its vehicles in 2023 and the electric vehicle (EV) maker is likely to continue this trend into next year, according to Goldman.
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"We believe that Tesla could further lower prices in 2024 to support higher volumes which we believe will mitigate the EPS benefit from cost reductions," Delaney said in a new note to clients.
The Goldman analyst expects margin headwinds in the short to medium term to weigh ...