Goldman Sachs Remains Buy-Rated On Tesla

Goldman Sachs reiterated its Buy rating on Tesla Motors Inc TSLA, following the release of Tesla's "Master Plan, Part Deux," which included new vehicle product lines and business segments, as well as updates to energy storage and autonomous driving goals.

The analysts mentioned several key point:

  • The company reiterated a well-integrated solar roof with battery product continues to be a goal for the company, supporting the proposed merger between Tesla and SolarCity SCTY.
  • Tesla plans to introduce a compact SUV and a pickup truck for consumers, as well as a heavy-duty commercial vehicle and a high passenger-density bus for urban areas. Interestingly, its plans didn't include a lower priced version of its upcoming Model 3 sedan.
  • Tesla also announced the ability for vehicle owners to turn its cars into an income generating asset during the 90 percent to 95 percent of the day they sit idle, as well as its intention to provide its own ride-sharing fleet.

The analysts have a six-month price target of $240. Shares traded recently at $220.33.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsReiterationAnalyst RatingsGoldman Sachs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!