Goldman Sachs (GS) Meets With Tesla Execs, Sees Bullish Developments With Model S

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11:41:33 am on April 25, 2011

Notable Calls has a great post this morning highlighting the Goldman Sachs meeting with Tesla Motors (TSLA) executives.  Here are the highlights…

– Orders have picked up for the Model S and now stand at 4,000 vs the 3,400 at year’s end.  The company now expects its 2012 production to sell out soon and still expects to launch the vehicle around mid 2012.

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– Targets 25% gross margins for the Model S

– Has successfully worked through design risks and now focusing on vendor and scalability risks

– The Fremont factory is now configured to produce 20K vehicles per year which is double the previously expected 10K

– Preproduction beta prototypes should launch this fall and be shown to the public

-  Company has enough cash on hand to complete the Model S, but may need to raise $100 – $200 million in capital to fund the Model X program which has been accelerated

– Goldman is calling the developments a significant positive

You might remember that the stock surged a few weeks back after Morgan Stanley came out with a very bullish call and $70 price target, but the stock isn’t moving up on today’s Goldman notes (down 2%).  Technically, the stock still looks bullish though.

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