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What's the latest from Goldman Sachs on stocks?

What's the latest from Goldman Sachs on stocks?
Asked by
Mark Michaels categorie-icon time-icon2 months ago

Mark Michaels
Answered time-icon2 months ago

Concretely, Goldman Sachs representatives have issued a note to their clients about Tesla stock recently, telling them that they should probably stay away from it saying that weak interest in their expensive electric vehicles will negatively impact earnings. The stock price chart can be seen here.

“We maintain our sell rating, and now expect 1Q19 deliveries/earnings to disappoint,” said Goldman Sachs’ analyst David Tamberrino in a note to their clients. He also added that his 12-month price target still stays at $210. Tesla shares closed at $288.36 on Wednesday.


“After looking through our typical monthly delivery indicators, we are lowering our Model S and Model X forecasts for 1Q19 to an aggregate 17,300 vehicles as we believe International demand headwinds and Model S cannibalization will likely weigh,” said Tamberrino in a note to Goldman’s clients.

 

“However, we are maintaining our current Model 3 forecast for 57,500 deliveries in 1Q19 despite estimating only approx. 21k through February as we believe the company has the potential to deliver at least 10k more Model 3s in each region with vehicles produced/already shipped Internationally and as Model 3 production in March was re-directed back toward the US market.”

 

There is information on other stocks as well, but one should listen to Goldman’s advise and stay away from Tesla.

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