Major Bank Ratings | Goldman Sachs: Maintains “Neutral” rating on Tesla; slowed capital expenditure and robotaxi progress identified as main risks

GroLink News, April 23｜Goldman Sachs analyst Mark Delaney maintained a “Neutral” rating and a $375 price target on Tesla. While he acknowledges progress in profit margins and a 51% year-on-year increase in Full Self-Driving (FSD) subscription rates, he warns that robotaxi deployment may proceed slowly in the short term, and an unsupervised FSD release for consumers may not arrive until the end of 2026. Delaney estimates that, given high investment costs, free cash flow will remain negative in both 2026 and 2027, only turning positive in 2028.