Goldman Sachs Raises Price Target on Tesla Motors
Prior to the third fire involving a Tesla Model S, Goldman Sachs raised its target price for TSLA.
Goldman Sachs presents one of the least optimistic outlooks out there for Tesla Motors, so “raised” certainly doesn’t mean that the new target is high.
According to Goldman Sachs, the new target price for TSLA is $104. That’s up from the previous target of only $95. The rating on the stock is “neutral.”
It should be noted though that Goldman Sachs was one of the few financial advisory group to actually raise the target on TSLA following the November 5 release by Tesla of earning for Q3.
So, Goldman Sachs obviously saw some positive results posted in Tesla’s Q3 report, or otherwise it would not have raised the target price.
We should further add that Tesla CEO Elon Musk believes that TSLA is overvalued at the moment, so perhaps the figure put forth by Goldman Sach is more accurate?