Tesla shares slide premarket as Goldman Sachs slashes price target to $158 from $200

Tesla shares drop premarket as price target cut to $158 from $200 at Goldman

Tesla Inc. shares TSLA, +0.75% fell 1.5% in premarket trade Thursday, after Goldman Sachs slashed its stock price target to $158 from $200 on concerns the company can meet estimates for the second half and beyond. Analysts led by David Tamberrino said they expect the second quarter to be fine and come close to FactSet consensus for volumes, estimates for the second half look high, "considering there are fewer levers to pull to stoke demand going forward .

Investors should be asking what are the sustainable levels for Model S, Model X and Model 3, they wrote, and how will that change with the introduction of the Model Y, which will likely cannabalize part of the customer base for other models.

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