知識社群ePortfolioLogin
Position: 趙永祥 > Investopedia
Goldman: Tesla to Fall 30% in 6 Months on Rising Competition
by 趙永祥 2018-09-05 11:12:11, Reply(0), Views(225)



The Tesla Inc. (TSLA) bears are out with another report on Tuesday morning, warning investors 

that shares of the electric vehicle industry pioneer could lose more than 30% of their value, 

citing increased competition in the next-gen auto industry and margin pressure. 

(See also: Investor Says Tesla Could Skyrocket to $4,000.)


'Medium to Longer Term Industry Backdrop Challenging for Tesla's Products'

Goldman Sachs restated covering Tesla stock with a sell rating and a six-month price target of 

$210, representing a 30% downside from Friday's closing price. In August, the investment bank

suspended its coverage on the auto stock after it said it was serving as a financial advisor "in 

connection with a matter that is fundamental" to Tesla. The decision came after 

Chief Executive Officer (CEO) and founder Elon Musk took to Twitter indicating that the Palo 

Alto, Calif.-based company was weighing a take private deal. Later, Musk said that the firm will 

remain public, while some speculated that the groundwork for a deal never existed. 


Analyst David Tamberrino expects Tesla to feel pressure on its lead in the EV space as competition

ramps up over the next several years from players including luxury carmakers Audi, BMW Jaguar, 

and Porsche.

"We see the medium-to-longer term industry backdrop as challenging for Tesla's products; 

this follows from an increasing number of EV launches from both traditional OEMs and other 

start-up competitors — at a time when the company's product cadence hits a gap," wrote 

Tamberrino. He expects a "large crescendo" of EV launches from traditional and new entrants 

alike in the early to mid-2020's, driven by regional mandates and tightening CO2 standards.  

"Altogether, we remain bearish on the company's ability to execute, achieve its targeted 

production ramp/margins, and sustain FCF [free cash flow] generation," added Goldman. 

Tesla shares are down about 2.5% on Tuesday morning at $294.06, representing a 5.6% 

decline year-to-date (YTD) compared to the S&P 500's 8% return over the same period. 

(See also: Tesla's True Value ‘Closer to $200’ Says Needham.)



Read more: 

Tesla to Fall 30% in 6 Months on Rising Competition: Goldman | Investopedia