Tesla Tanks After Goldman Downgrades to Sell
- Automaker seen likely to raise capital in the third quarter
- Launch of Model 3 may be delayed, analyst Tamberrino says
NYU's Aswath Damodaran Calls Tesla 'Ultimate Story Stock'
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Tesla Inc. fell 5 percent after Goldman Sachs Group Inc. turned negative on the stock and cast doubt on Chairman Elon Musk’s ability to deliver the company’s new vehicle on time.
Analyst David Tamberrino downgraded the shares to sell from neutral and trimmed his six-month price target to $185 from $190. That helped send shares to $244.23 as of 9:46 a.m. in New York. Tesla closed at $257 on Feb. 24.