Tesla (TSLA) PT Raised to $345 at Goldman Sachs

Goldman Sachs analyst Mark Delaney raised the price target on Tesla (NASDAQ: TSLA) to $345.00 (from $250.00) while maintaining a Neutral rating.

The analyst comments: "While we believe that the company is in a leading position in the domains of platforms & power, and in the broader clean mobility space (including EVs, storage, software, and charging), we expect Tesla will face headwinds in the core auto business over the near to medium term (including slower global EV demand, and pricing pressure). Tesla's EV market share has been trending lower across the US, Europe, and China which we believe is contributing to pricing headwinds, although share could be more stable for Tesla going forward, with several of the larger auto OEMs taking a more selective approach to the EV market given likely reduced emissions requirements.

While we see some fundamental headwinds to the core auto business over the near to medium term and see valuation as full, we also believe the stock could remain at a higher multiple to reflect the long-term opportunity tied to FSD/robotics given broader market interest in potential AI beneficiaries. Tesla's stock is trading at the higher-end of the historical range on NTM non-GAAP EPS"

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