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Piero Cingari

Goldman Sachs Downgrades Tesla To Neutral Despite Upping Price Target

Tesla Inc. Goldman Sachs Mark DeLaney

Sign with logo for Tesla Motors in front of new glass building near the company's headquarters in the Silicon Valley, Fremont, California.Tesla has soared by an astounding 108% year-to-date, beating the S&P 500’s more restrained 13% gain. Tesla has increased by 38% in the last month alone, outpacing the S&P 500’s 5% growth.Tesla’s outstanding performance is now properly reflected in its share price.PHOTO BY SMITH COLLECTION /GETTY IMAGES

Goldman Sachs downgraded Tesla, Inc.From Buy to Neutral while upping the 12-month price target.

Goldman Sachs justified its decision by highlighting the substantial surge in Tesla’s stock price. Analyst Mark Delaney raised the price target from $185 to $248.

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