"Tesla's sales are declining across major global markets, leading Goldman Sachs to cut its price target for the company's stock to $285."
"Despite projected decreases in deliveries, Tesla continues to maintain strong financials with significant revenue and market capitalization that underscore its prominent position."
Goldman Sachs analysts have reduced Tesla's price target from $295 to $285 and maintained a Neutral rating in the wake of disappointing sales figures across key markets. Tesla shares have seen a significant drop of nearly 18% over the past week, with specific concerns about delivery declines in the U.S., Europe, and China. Latest reports indicated a 50% fall in European sales in April, while the U.S. saw mid-teen percentage drops. While Goldman projects a decline in second-quarter deliveries, Tesla's overall financial performance remains robust, indicating its resilience in a highly competitive landscape.
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