Goldman Sachs maintained its "Neutral" rating on Tesla but lowered its third-quarter vehicle delivery forecast from 490,000 to 435,000 units, citing softer-than-expected demand in some key markets. The investment bank adjusted its price target for the electric vehicle maker to $360. This revised forecast is below the previous consensus estimate of 456,000 deliveries for the quarter.
While the bank's analysis pointed to weaker sales in some primary regions, it also noted that exports from China to other markets like Southeast Asia and Australia are showing encouraging year-over-year growth. Separately, it was reported that Tesla filed plans to build a new $1.4 million, 538,720-square-foot distribution center near Austin, continuing its operational expansion in Texas.