Wall Street continues to grow cautious on an astronomical surge in shares of Tesla this year, with Goldman Sachs cutting the stock to the equivalent of a...
Shares of Tesla Inc. fell in premarket trading on Monday after Goldman Sachs became the latest to warn clients that it may be time to take some profits.
“While... Shares of Tesla Inc. fell in premarket trading on Monday after Goldman Sachs became the latest to warn clients that it may be time to take some profits. “While the primary reason for the change is that we think the market is now giving the stock more credit for its longer-term opportunities post the recent rally, we’re also cognizant of the difficult environment for new vehicles that we think will continue to weigh on Tesla’s automotive non-GAAP gross margin this year,” said the note, written by analysts led by Mark Delaney. The team’s price target was increased, to $248 from $185.
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