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Tesla dented by Goldman downgrade

Thursday, October 6, 2016 7:13
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(Before It's News)

Tesla Motors Inc (NASDAQ:TSLA) shares eased lower as Goldman Sachs chopped its price target by almost a quarter and reduced its investment view to hold.

The heavyweight US broker said that Tesla’s proposed acquisition of Solar City combines two high growth, high cash burn business and makes the business overall higher risk.

Goldman expects the electric car maker to post positive earnings for the recent three months.

But the additional capital now earmarked for M&A and the possibility of a further delay to the launch of the Model 3, means neutral rather than buy is now Goldman’s view.

Shares eased 3% to US$201.80.

Story by ProactiveInvestors

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