Goldman Sachs maintained its Neutral rating on Tesla while lowering its third-quarter delivery forecast. The firm reduced its estimate from 490,000 to 435,000 units. Analysts adjusted the stock's price target to $360.
The revision follows indications of softer-than-expected sales across several key global markets. Lower delivery expectations suggest potential headwinds for near-term volume growth.
Tesla's exports from China to Southeast Asia and South America show positive year-over-year growth. These international gains may partially offset sales weakness in other regions.
GuruFocus analysis indicates Tesla stock remains modestly overvalued based on intrinsic value metrics.