Tesla's massive run-up is likely over for now, according to Goldman Sachs.
Goldman did raise its price target to $248 from $185, but the new forecast still represents 3.4% downside from Friday's close.
Delaney added that Tesla stock will still remain strong as the overall EV market continues to grow.
Goldman now joins other major Wall Street shops including Morgan Stanley and Barclays in downgrading Tesla stock over the past week.
TSLA YTD mountain Tesla stock has climbed more than 108% this year.
Persons:
Goldman Sachs, Goldman, Mark Delaney, Delaney, Morgan Stanley, — CNBC's Michael Bloom
Organizations:
Tesla, Ford, Barclays