Woofun AI reports that Goldman Sachs has maintained a 'Neutral' rating on Tesla, setting a 12-month price target of $375 which suggests an 8.8% downside from the current stock price of $411.15. This stance persists despite an upward revision of the second-quarter 2026 delivery forecast from 405,000 to 420,000 vehicles, surpassing the Visible Alpha consensus of 400,000 units.

The bank's analysts, including Mark Delaney, cited robust registration growth in Europe, which surged between 85% and 90% year-on-year through May, alongside high single-digit growth in China as reported by CPCA data. These regional gains are offsetting significant weakness in the US market, where deliveries have declined by double digits since the start of the quarter. Consequently, Goldman Sachs also increased its full-year 2026 delivery projection to 1.73 million vehicles and raised the earnings per share estimate to $1.35, while keeping long-term forecasts for 2027 and 2028 unchanged.