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TSLA: Goldman Sachs Reiterates Neutral Rating - PT $275

Moomoo 24/7 ·  Sep 18, 2023 06:04

"We lower our 2023 and 2024 EPS estimates for Tesla, mostly on lower ASPs and in turn auto gross margin ex credit assumptions (driven by lower prices for S/X and to a lesser extent Model Y, and partly offset by higher Model 3 ASP assumptions). Tesla materially reduced S/X pricing on 9/1 by 15-19%, and reduced Model Y pricing in China in mid-August (and has been discounting inventory on hand in other markets like the US this quarter). However, Tesla raised pricing on the Model 3 with the refreshed version (Highland) that is now being sold in Europe and China."

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