Tesla Stock: Goldman Sachs Cuts TSLA Margin Outlook With More Price Cuts Expected

Tesla (TSLA) stock fell Monday as Goldman Sachs lowered its 2023 and 2024 profit outlook for the global EV giant. Lower average selling prices are expected to continue weighing on gross margins.

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Goldman Sachs analyst Mark Delaney on Monday cut the firm’s 2023 and 2024 EPS estimates for Tesla, telling investors the EV company could cut vehicle prices in 2024 to keep volumes high. Delaney maintained a neutral rating on Tesla stock with a 275 price target, around 3% above where TSLA…