Tesla (TSLA) "2Q17 deliveries likely a non-event", Maintain Sell - Goldman Sachs

June 30, 2017 6:32 AM EDT
Get Alerts TSLA Hot Sheet
Price: $707.62 -0.31%

Rating Summary:
    26 Buy, 20 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 15 | New: 7
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Goldman Sachs maintains Sell on Tesla Motors (NASDAQ: TSLA) price target of $190.00.

Analyst David Tamberrino believes the company will meet its H1 2017 delivery guidance and cautions that further upside does not exist. He believes the delivery announcement will likely be a nothing burger as the calendar change to July shifts attention to first production of the Model 3. He expects slower cadence that implied by Tesla management and sees H2 2017 and EBITDA numbers underperforming Street expectations. He expects the stock to sell off as the Model 3 launch nears.

Q2 deliveries announcement should come in below expectations. Tamberrino forecasts 23,500 deliveries versus StreetAccount consensus of 24,185.

FY 2017 EPS estimate is for a loss of $2.68, FY 2018 EPS estimate is for a gain of $0.69 and FY 2019 EPS estimate is for a gain of $5.14.

For an analyst ratings summary and ratings history on Tesla Motors click here. For more ratings news on Tesla Motors click here.

Shares of Tesla Motors closed at $360.75 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Hot Comments

Related Entities

Goldman Sachs, Tesla, Model 3