42 days ago • Posted by Charles-Henry Monchau
Goldman new target price on Tesla implies 8% downside
GS: "Our 12-month price target of $780 is based on 15X Q5-Q8 EV/revenue". Also GS continuing on the press reports after close: "The fact that NHTSA has been investigating this has been previously discussed in media reports in June 2020 and stated to be a problem with the eMMC memory. Tesla had already been offering an extended warranty, and switched to a new product in 2018 that doesn't have the same issue. The financial impact will depend on the price of repairs and final number of units that are fixed, and if there is any change to Tesla's warranty accrual. Investigation into reports of unintended acceleration concludes issue is from driver error"