Goldman Sachs has reduced its 12-month price target for Tesla from $345 to $320, primarily due to disappointing vehicle delivery numbers and demand concerns across critical markets like China, Europe, and the US. The bank forecasts a drop in Q1 2025 deliveries to 375,000 units, below previous estimates and overall consensus. Despite these short-term challenges, Goldman Sachs maintains a positive outlook on Tesla's software revenue growth, driven by advancements in Full Self-Driving (FSD) technology, signaling confidence in the company's longer-term viability.
Goldman Sachs has lowered its 12-month price target for Tesla from $345 to $320 due to weaker-than-expected vehicle deliveries in key regions and demand challenges.
The firm predicts Q1 2025 deliveries of 375,000 units, down from a previous forecast of 399,000 units, citing broader demand trends and quarter-to-date data.
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