Tesla (NASDAQ:TSLA) slipped somewhat in Wednesday afternoon’s trading. Several factors combined to turn the company down, including a downward-trending delivery forecast at Goldman Sachs.
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There’s good news and bad news alike out of Goldman Sachs (NYSE:GS) for Tesla investors. Things aren’t looking that great in the short term. Goldman looks for 420,000 deliveries in the fourth quarter now, as opposed to the 440,000 seen previously. Full-year deliveries for 2023 don’t look much better either; Goldman also dialed down expectations there, lowering forecasts from 1.95 million vehicles delivered to 1.85 million.
However, there’s a chance for improvement too. Goldman left its Buy rating in place, asserting long-term prospects will prove more positive than the recent downward revisions suggest. Additionally, Tesla released its “holiday update” for Model S and Model X vehicles. The update includes the ability to play games in those vehicles, including any game with “Verified by Valve” status. Several other apps will receive integration, including MyQ, Apple Music, and more.
Right now, though, there’s some significant discontent from within the analyst community. Tesla is considered a Moderate Buy, with Buy recommendations beating Hold and Sell recommendations combined by nearly two to one. Tesla’s average price target of $305.50 implies upside potential of 92.39%.
