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Tesla Received Buy Rating from Goldman Sachs with $864 Price Target, Positive On Model Y

by Vincent Y April 14, 2020

Tesla Received Buy Rating from Goldman Sachs with $864 Price Target, Positive On Model Y

On April 14th, 2020. Mark Delaney from Goldman Sachs initiated coverage of the EV maker Tesla and giving a buy rating with $864 price target. Mark is positive about Tesla's product lead position in electric vehicle industry. In additional ,he expects the EV maker with a "long-term secular growth" in coming years.

Mark also points out the company (Tesla) has the early mover advantage, vertical integration, brand recognition, and also the launch of Model Y will play an important role in the SUV and crossover market down the road

In the note:

"While we expect the current industry downturn and the shutdown of Tesla's Fremont factory due to COVID-19 to weigh on 2020 results, we'd note that even using a $2 per gallon gas price assumption, we believe that the total cost of ownership (TCO) in the premium car market between a Model 3 and an internal combustion engine car is comparable, and Tesla's cars offer strong performance (e.g. 0-60 acceleration) and safety (5-star safety ratings from NHTSA) features."

Delaney acknowledges the current stock TSLA pullback due to the coronavirus situation created an opportunity to purchase the market leader in a great price.




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