Tesla shares could cool following Monday's rally as obstacles remain to achieving full self-driving technology in China, according to Goldman Sachs.
But Goldman analyst Mark Delaney has a $175 price target, which implies a 9.8% downside from the stock's last closing price.
"Importantly, Tesla will also need to navigate government rules on data access, localization, and AI which could complicate technology sharing within/outside of China."
Tesla shares opened down more than 3% on Tuesday.
Despite Monday's rally, Tesla stock is still down almost 22% in 2024 as the company contends with sales challenges.
Persons:
Goldman Sachs, Goldman, Mark Delaney, Delaney, Tesla
Locations:
China