Goldman Sachs: Maintaining Tesla's' neutral 'rating, 12-month target price 8.8% lower than current price BlockBeats News: On June 16th, Goldman Sachs announced that Tesla's second quarter car deliveries may exceed market expectations, as the rebound in European demand and improved sales in China offset the impact of the sluggish US market. In a report released on June 15th, Goldman Sachs analysts such as Mark Delaney raised Tesla's delivery expectations for the second quarter of 2026 from 405000 vehicles to 420000 vehicles, higher than the market consensus of 400000 vehicles compiled by Visible Alpha. The bank stated that the latest regional sales and registration data indicate that Tesla's quarterly delivery performance is exactly as expected. The report shows that Europe is the main highlight of this quarter. As of May, Tesla's registration volume in Europe has increased by about 85% to 90% year-on-year, and data from early June also showed a strong start. However, Goldman Sachs reminds that the growth rate in Europe has partially benefited from the low base of the same period last year. In contrast, the US market remains weak, with delivery volumes falling in the mid double digits year-on-year as of the May quarter to date. On the Chinese side, data from the China Association of Automobile Manufacturers indicates high single digit year-on-year growth, while other markets in the Asia Pacific region such as South Korea and Australia have also performed steadily. Goldman Sachs has also raised its full year delivery forecast for Tesla, raising its 2026 delivery forecast from 1.72 million vehicles to 1.73 million vehicles, but maintaining its 2027 and 2028 forecasts of 1.88 million and 1.96 million vehicles, respectively. The bank has also raised its expected earnings per share for 2026 from $1.30 to $1.35. Despite the improvement in short-term delivery prospects, Goldman Sachs still maintains Tesla's "neutral" rating, with a 12-month target price of $375. Based on the stock price of $411.15 at the time of report release, this target price implies approximately 8.8% downside potential.