Goldman Sachs today joins a slew of other Banks downgrading Tesla The Firm cutting shares of the electric car maker to neutral from buy though also increasing the company's price Target at 248 dollars from 185 dollars joining us now Yahoo finance is Pros subramanian to discuss more with us I mean it's just like a pile on at this point yeah what is it is one's An Occurrence two is a coincidence three is a trend right so we have a trend going on here again pretty much the same kind of Call of the other Banks there it's a valuation thing uh they're talking about how it better reflects the stock now better reflects what they think is a long-term view of the company uh and I'm going to neutral as not as an overweight kind of position for for investors uh talking about things like they didn't see the ram coming right they didn't see it coming but they're they're surprised by but they think it's due to things like uh reports of better sales in April and May not official reports or just reports less discounting than they thought uh the model three getting the full tax credit the charging deals and then of course the AI sort of frenzy so all this sort of led to the stock a huge move for Tesla this year and last in particular the last in last May so kind of a big deal there so they mentioned that but also they said the company's still well positioned and like I said they hike the price Target they're really sort of uh behind there in terms of where the stock is right now but uh they also actually hike their estimates for next quarter too so uh there's that for that sort of uh position to move up higher it does I agree with Julie I I thought that it does feel like a pile on it's like if you can't beat the rest of the analysts join them uh and well and it's funny because the downgrades are coming even as most of them are raising their price targets right yeah so they still expect the stock to perform better exactly yeah potentially yeah and and for for Goldman they're so below where this where the price of the stock is right now but they brought it up considerably so they're confident of at least maintaining that level for now but like you said it's it's just following the train right you know the stock starts shooting up we gotta we got to catch up we got to catch up so exactly I know you follow this pretty closely so yeah and I want to just talk about one other kind of EV play that we've been watching today the Lucid Aston Martin deal what do you make of this uh you know I'm surprised to see that Aston Martin's doing this and it's good thing but a lot of people have been waiting for uh Lucid to actually sort of license their technology that was a big play for them because they make their own batteries they make their own inverters they make their own Motors uh obviously software too so it's sort of a big play they have in from an IEP point of view so good to see loosa doing that with with uh with ASMR they're going to take a stake in the company as well in addition to some cash considerations there so it is a nice deal to see from Lucid shareholders I mean the stock has been down a lot recently so this is a this is a huge pop today for them and Aston Martin got it as well in UK trading does Aston Martin make EVS already is it just a question like how is the Lucid technology in their parts viewed in the industry and will we see more other automakers may be wanting to get their hands on it so I tested Lucid air it's it's remarkable a really powerful powertrain but also very smooth really really well-dently dialed in uh there is Motrin car of the year two years ago so they it is well received so it is a best-in-class Evolution I I would say for automakers and this as smart is supposed to have a car in 2025 they have no EVS out right now and they were partnering with Mercedes to do these sort of things so Mercedes might take a step back do more of their gas powered car powertrains but Lucid I think is their partner going forward for EVS and beginning 2025. interesting we're going to have to put a bookmark I can't find the right button for this one electric pin I don't know yep exactly all right supermanian thank you so much
