The Tesla Inc. (TSLA) bears are out with another report on Tuesday ღmorning, warning investors that shares of the electric vehicle industry pioneer could lose more than 30% of their value, citing increased competition in the next-gen auto industry anꦛd margin pressure. 

(See also: Investor Says Tesla Could Skyrocket to $4,000.)

'Medium to Longer Term Industry Backdrop Challenging for Tesla's Products'

Goldman Sachs reinstated coverage of Tesla stock with a sell rating and a six-month 澳洲幸运5官方开奖结果体彩网:price target of $210, 30% downside from Friday's closing price. In August, the investment bank suspended its coverage on the auto stock after announcing it was serving as a financial advisor "in connection with a matter that is fundamental" to Tesla. The decision came after 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) and founder Elon Musk took to Twitter indicating that the Palo Alto, Calif.-based company was weighing a take private deal. Later, 𝐆Musk said that the firm will remain public, while some speculated that the groundwork for a deal never existed. 

Analyst David Tamberrino expects Tesla to feel pressure on its lead in the EV space as competition ramps up over the next several years fro🐽m players including luꦬxury carmakers Audi, BMW Jaguar, and Porsche.

"We see the medium-to-longer term industry backdrop as challenging for Tesla's products; this follows from an increasing number of EV launches from both traditional OEMs and other start-up competitors — at a time when the company's product cadence hits a gap," wrote Tamberrino. He expects a "large crescendo" of EV launches from traditional and new entrants alike in the early to mid-2020's, driven by regional mandates and tightening CO2 standards.  

"Altogether, we remain bearish on the company's ability to execute, achieve its targeted production ramp/margins, and sustain FCF [free cash flow] generation," added Goldman. 

Tesla shares are down about 2.5% on Tuesday morning at $294.06, representing a 5.6% decline 澳洲幸运5官方开奖结果体彩网:year-to-date (YTD) compared to the S&P 500's 8% return🐬 over the same period. 

(See also: Tesla's True Value ‘Closer to $200’ Says Needham.)