Electric vehicle pioneer Tesla got a big boost of confidence from Wall Street Wednesday. Goldman Sachs says buy shares now.
“We expect 2020 [industry] fundamentals to be very challenging cyclically,” wrote analyst Mark Delaney in a Wednesday research report. Challenging is an understatement. Auto sales plunged more than 30% in March and steeper declines are expected in April. “Investors [should] be selective with the group and own stocks that we expect to benefit from key long-term secular growth areas like EVs.”
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