Goldman Sachs raised its forecast for Tesla's second-quarter vehicle deliveries to 420,000 units from 405,000, placing its estimate above the market consensus of 400,000. The investment bank cited strong sales data as the primary driver for the upward revision, maintaining a "Neutral" rating on the stock with a $375 price target.
The upgraded forecast is based on robust performance in key global markets. European registration data through May showed a significant year-over-year increase, and sales in China and other Asia-Pacific markets also posted strong figures. This international strength helped to offset some reported weakness in the U.S. market.
This news emerges as investor discussions continue around Tesla's valuation, particularly concerning its stake in the recently public SpaceX and speculation about a potential merger between the two companies.