Goldman Sachs Increases Tesla Price Target to $248 Following Stronger Delivery Forecast

Goldman Sachs analyst Mark Delaney raised the price target on Tesla shares to $248 from $175, while maintaining a Neutral rating. The firm increased its 2024 EPS estimate to $2.05 citing higher deliveries. Despite a positive long-term outlook in the EV and clean energy sectors, weak market conditions could impact earnings in the near term. The firm considers Tesla’s current valuation to be fully priced. Tesla’s Model Y became the best-selling NEV in China, with sales rising year-over-year. The model was included in the Chinese Government’s procurement list, marking the first time Tesla has been featured in a government catalog in China. Written by Cláudio Afonso.