Goldman Sachs sees some Model 3 growing pains for Tesla (TSLA -0.6%) as the mix of sales at lower price points increases pressure margins even as the company’s overall headcount is reduced.
“We believe that 2019 is shaping up to be another choppy year for Tesla and its shares as it navigates the US Federal Tax Credit phase-out and mix-down of its Model 3 program,” writes analyst David Tamberrino.
“Ultimately we continue to see the downside to consensus expectations over the coming years and expect the company’s shares to follow,” he adds.
Goldman Sachs keeps a Sell rating on Tesla and price target of $225 based off probability-weighted valuations for the automotive segment ($200), Tesla Energy segment ($20), and the SolarCity segment ($5).
SOURCE:
|By: Clark Schultz, SA News Editor
(https://seekingalpha.com/news/3424690-goldman-sachs-warns-tesla)
