Goldman Sachs Reiterates Buy Rating on Tesla (TSLA) Illustrating Tech Leadership
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Goldman Sachs analyst Mark Delaney reiterated a Buy rating and $860.00 price target on Tesla (NASDAQ: TSLA) after the company started deliveries of Model S Plaid. This is a higher-end version of the Model S that can accelerate from 0 to 60 MPH in less than 2 seconds, has about 400 miles of range, and is capable of a top speed of about 200 MPH. Per Tesla, it is the fastest accelerating production car in the world, while also offering 4-doors with comfortable back-row adult seating, a premium interior with features such as PS5 level gaming and wireless charging, and what Tesla expects to be a leading safety rating from NHTSA.
The analyst stated "While the market for the Plaid itself is relatively small, we believe it is an important product given that 1) the Model S Plaid helps illustrate Tesla’s technology leadership position, which we consider one of the reasons for its strong share in EVs (along with other factors including its brand as the leader in EVs and clean transportation, and its ecosystem that includes a charging network and energy generation/storage), and 2) the superior acceleration that EVs provide compared to ICE cars, especially the Model S but even standard Tesla vehicles such as the Models 3 and Y, supports our positive view on EV adoption as these are vehicles consumers want to own (with performance benefits in addition to the increasingly attractive economic considerations and environmental benefits)."
Shares of Tesla closed at $610.12 yesterday.
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