Goldman's Patrick Archambault isn't buying Northland Capital's $230 Tesla (TSLA -4.1%) price target. Archambault's bull case assumes a 3.5% global market share in the entry- and mid- luxury categories, equating to 200K units sold. Applying a 15.2% operating margin implies $113/ share. The bear case (which assumes total sales of 105K units, operating margins of 14.6%, and a 20x p/e multiple) values the stock at just $58. Goldman's target price is $84, only 34% below Monday's close.