Goldman Sachs lowered its third-quarter delivery forecast for Tesla from 490,000 to 435,000 units. The firm cited softer demand in key markets for the revision. This new estimate falls below the anticipated 456,000 deliveries.
The firm maintained its Neutral rating on the stock. Analysts adjusted the price target for Tesla to $360.
Tesla's exports from China to Southeast Asia, South America, and Australia show encouraging year-over-year growth. These gains may partially offset weaker sales in other regions.
A GuruFocus analysis suggests Tesla's stock is modestly overvalued. This valuation is based on the GF Value™ metric.