Goldman Sachs analyst revisits Tesla stock price target ahead of key events

Tesla shares nudged higher in early Monday trading, extending a superior September gain, after a top Wall Side road analyst revisited his rating and price target on the electrical-vehicle group beforehand of two key events over the approaching weeks.

The stock of Tesla (TSLA) , so they are ready to publish its 0.33-quarter delivery figures next week, has fallen around 9.5% contained in the about 10 weeks since it delayed its robotaxi unveiling, on the beginning slated for early August. CEO Elon Musk said the delay became needed to "make some important changes that I believe would toughen the vehicle."

Musk added that he would be "taken aback" if the first unsupervised rides may per chance now not happen by the tip of next year.

The new reveal, which is decided for Oct. 10 at a Warner Bros. Discovery (WBD) studio lot in Los Angeles, will mark a key pivot point for the automaker as it looks to conform far off from its traditional carmaking roots to center of attention on self reliant-driving technologies, powered in part by its Dojo AI supercomputer.

Musk, who has staked the group's future on its ability to resolve self reliant driving, also desires to roll out its Full Self-Driving progressed driver-assistance software in Europe and China next year after a series of regulatory and technological delays.

Robotaxi timeline in center of attention

Musk told Tesla employees earlier this year that it would be "mandatory" for its North American operations to "install and spark off" Full Self-Driving software in new Tesla vehicles, with personnel became required to "take customers on a short test ride earlier than handing over the car."

"Almost nobody definitely realizes how well (supervised) FSD works," Musk wrote contained in the memo. "I do know this may per chance decelerate the delivery process, however's miles however a challenging requirement."

Goldman Sachs analyst Mark Delaney, who reiterated his 'neutral' rating and $230 price target on Tesla stock heading into the October event, said the details Musk provides at some stage in the robotaxi reveal is likely to be a crucial.

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"The timeline to start off commercial operations in robotaxis (including technology readiness and operational/regulatory/logistical considerations) and the business outlook (including how Tesla's cost structure may compare to competitors) is likely to be key areas of center of attention for investors," Delaney said in a note published Monday.

He also suggested that news of a new low-cost Tesla model, a liberate that investors have long encouraged Musk to pursue, is likely to be on the table at next month's Los Angeles event.

Delivery figures on deck

"Whether Tesla provides more details or unveils the emblem new lower-cost model on the 10/10 event has also been a frequent topic in our investor discussions," he added.

Tesla, which is decided to report its 0.33-quarter results on Oct. 16, is likely to be likely to liberate its overall vehicle delivery tally for the three months ending in September sometime early next week.

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The group's China sales, which have been floundering for a really good buy of the year, had a superior rebound in August, in keeping with official figures. But activity in Europe is still notably depressed, with sales down Forty three.2% last month, in keeping with European Automobile Manufacturers' Association data.

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Goldman's Delaney pegs the 0.33-quarter tally around 460,000 units, up around Four% from the prior three months and around 6% higher in comparison with the year-precedent days.

Early estimates suggest that Tesla will post earnings of 60 cents a share, down 9% from a year earlier, on revenue of around $25.fifty seven billion.

Tesla shares were marked 1.Four% higher in premarket trading to indicate a gap bell price of $241.50 each.

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