Goldman Sachs downgrades Tesla to "sell" from a "neutral" rating, and the stock is falling. Tesla is down 4.72% at $244.86 a share on Monday morning.
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Goldman Sachs downgrades Tesla — and the stock is falling (TSLA)
The investment bank downgrades the company to "sell" from a "neutral" rating.
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The bank also lowered their six month price target to $185 from $190 a share. According to the Goldman Sachs equity research team in a note published on Monday, "Our concerns are more near-term oriented with respect to operational execution on the Model 3 launch, an unproven solar business, and cash needs. Ultimately we see a delayed launch (pushing volume growth out and to the right) and FCF burn rate (necessitating a capital raise before 4Q17) to weigh on TSLA’s shares."
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