(News Bulletin 247) – Goldman Sachs downgraded its recommendation on Tesla on Monday, from ‘buy’ to ‘neutral’ with a 12-month price target lowered from 248 to 185 dollars.
After the stock’s sharp rise last month (+38% against +5% for the S&P 500 index) and its jump since the start of the year (+108% compared with +13% for the S&P), the analyst believes that the group’s valuation better reflects its growth potential and its competitive advantage?
The design office also says it is well aware of the environment which is becoming more difficult in terms of prices, an element which it considers likely to weigh on the automaker’s profit margins this year.
Tesla had already lost, last week, two buying opinions from brokers, Barclays then Morgan Stanley having lowered in turn their opinion on the value.
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