On for the Tesla folks, plenty of them trading roex also.
The reason for the headline is that yesterday we got this after the FOMC:
GS were very late to the party on this, pretty much all other investment banks ahd pencilled in rate cuts from the Fed this year except GS, so yeah a bit behind on this call.
So, with that as background - GS have cut their price target on Tesla by 21%
- They have one of the lowest targets around ($41)
GS citing their concern on the sustainability of demand for the cars
- there is potential upside surprise from a faster ramp or pull forward of Model Y ahead of schedule
- there is likely cannibalization of current Model X and Model 3 product demand with a crossover variant
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Oh - lest I be overly simplistic - the FOMC analysts are not the same folks at GS as the equity analysts. But still.
I hope is this a relevant pic? I am still an internal combustion sort of car guy.
