UPDATE: Tesla (TSLA) PT Raised to $1,300 at Goldman Sachs, 'We suggest that investors be tactical with the stock'

July 8, 2020 7:01 AM EDT
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(Updated - July 8, 2020 8:33 AM EDT)

(updating comment)

Goldman Sachs analyst David Tamberrino raised the price target on Tesla (NASDAQ: TSLA) to $1,300.00 (from $950.00) while maintaining a Neutral rating.

The analyst comments "Given the better than expected 2Q deliveries from Tesla, coupled with likely better margins than we previously anticipated, we raise our estimates and take our 12-month price target to $1,300. We will look to better understand from the earnings report the Model Y backlog (as delivery times have declined despite media reports of production challenges), the reason for the Tesla price cuts intra-quarter, and the intermediate to longer-term margin outlook. We suggest that investors be tactical with the stock."

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