Despite a sharp sell-off in the past month, Goldman Sachs is staying bullish on Tesla stock.

"We believe that Tesla, given its leadership position in EVs (including its vertical integration and tight coupling of hardware and software, as well as its ecosystem of charging stations and brand), and its focus on clean transportation more broadly (given its solar and storage businesses) will be best positioned to capitalize on the long-term shift to EVs," Goldman Sachs analysts wrote in a new paper looking at winners from the shift to autonomous driving.

Goldman reiterated a buy rating on Tesla shares with a $305 price target, which assumes about 45% upside from current levels.

"We expect Tesla to expand margins in the medium term as it ramps the important Model Y product as well as new factories in Berlin, Germany and Austin, Texas, and in the long-term as it increases its mix of software revenue," the analysts added.

The vote of confidence comes amid a volatile few weeks for Tesla's stock and CEO Elon Musk.

Shares have tanked about 28% in the past month, reflecting several concerns that range from the high beta EV stock being hit with the broader market retrenchment on interest rate hike fears to threats of a U.S. recession impacting consumer demand for big-ticket autos.

On the latter point, auto sales fell slightly in the September retail sales report released on Friday, echoing recent downbeat commentary on auto demand from the likes of Ford and CarMax.

Musk, meanwhile, remains locked in a battle for Twitter — raising concerns that he will be distracted on execution at Tesla.

Taken together, those factors have contributed a 40% YTD slide for Tesla's much-loved stock.

Not all investors are heading for the door on Tesla, of course. Long-time Tesla bull Cathie Wood remains very upbeat on the company and Musk.

"Certainly all stocks are experiencing difficulty in this environment as the market tries to understand how far the Fed is going to go and how deep this recession is going to be. So Tesla is a solution to the problem," Wood exclusively told Yahoo Finance Live. "We think that gas-powered vehicles are going to be obsolete within the next 5 to 10 years. And the traditional auto industry has to figure out a way to migrate into electric vehicles and into the next big phase, which we think Tesla is leading, the autonomous taxi platform phase."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

To get a sense of who is truly in control of Texas Instruments Incorporated ( NASDAQ:TXN ), it is important to...

Tesla still isn't the largest automaker in China, but investors may want to focus on the company's margins instead.

"It just looks like root beer": Florida's waterways look an eerie color and smell like "a combination of dead fish and compost." Here's how the state's environment is reeling after Hurricane Ian.

Companies and analysts are both cutting estimates in the face of a difficult economy. Investors should pay close attention to company guidance, not for this quarter but for 2023.

With this in mind, we asked three Motley Fool contributors to pick beaten-down stocks to buy and hold. Here's why they chose Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Pfizer (NYSE: PFE). Keith Speights (Abbott Laboratories): Shares of Abbott Laboratories have fallen close to 30% year to date.

Microsoft Corporation ( NASDAQ:MSFT ) shareholders might be concerned after seeing the share price drop 11% in the last...

Brazilian polling companies have been facing threats of a crackdown after their surveys for the election’s first round significantly understated the support for the president and his allies. President Jair Bolsonaro’s Justice Ministry called for a Federal Police investigation and the antitrust regulator on Thursday launched a probe into whether pollsters formed a cartel to manipulate election results. “The main goal is not to improve electoral polls, but to persecute and punish institutes,” said Alberto Almeida, who leads political research institute Brasilis.

Claret Asset Management, an asset management firm, published its third quarter 2022 investor letter – a copy of which can be downloaded here. According to the fund, higher interest rates will eventually act as a brake to this economy on steroids that is mainly funded through extreme fiscal largesse and printed money by central banks. […]

In this article, we will look at the 11 best micro-cap stocks to invest in. If you want to explore similar stocks, you can also take a look at 5 Best Micro-Cap Stocks To Invest In. Large-cap and mega-cap stocks have been hammered hard in 2022, amid rampant inflation, rising interest rates, and global supply […]

Exxon is building a base as the conflict in Ukraine rages on and as Q3 earnings are due later this month.

Tesla and BYD Co. are both fast-growing EV giants. While a lot of attention falls on startups such as Rivian Automotive, Lucid, Nio, Xpeng and Li Auto, as well as traditional automakers pushing into EVs, such as General Motors and Ford Motor, Tesla and BYD are setting the pace. Tesla reported record deliveries in the third quarter on Oct. 2, but they came in well below views, as China demand concerns grow.

The situation is further disrupting the economics of a sector already hit by low crypto prices and high energy costs.

STORY: Nesat, with winds packing 75 mph, brushed past northern Philippines early on Sunday, damaging houses, submerging roads and forcing over 900 people to evacuate as it moved westward.Video from a resident of Claveria town showed widespread flooding and a partially submerged home with trees blown by strong wind as Nesat drenched the province with heavy rain.Nesat could exit the Philippine Area of Responsibility later in the day as it moved towards the South China Sea, the Philippine weather bureau said in a statement.

(Bloomberg) -- Tesla Inc. shares tumbled about 50% from their all-time high, amid a broader selloff in the US stock market that has hit growth and technology companies especially hard. Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandRolex Prices to Drop Further as Supply Surges: Morgan StanleyDiesel Hits Chaos Mode in Fresh Blow for Global EconomyThe electric vehicle-maker’s shares closed down 7.6% to $204.99 on Friday, taking its market capitalization to $

This common misconception could lead to wasted food and wasted money.

To get a sense of who is truly in control of Benson Hill, Inc. ( NYSE:BHIL ), it is important to understand the...

NFLX stock has been holding above $200 for several weeks but the 200-day moving average marks a potential resistance level.

Emily Cooper has a new hairstyle to go with a potential new job.

A person was shot, then later died at the hospital after an East Memphis shooting.

President Biden announced a new $725 million defense drawdown to support Ukraine on Friday as Russia conducts a series of missile strikes throughout the country. Biden announced the drawdown in a White House release, authorizing Secretary of State Antony Blinken to provide the money for equipment, military education and training. Russia has launched hundreds of…