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Tesla (TSLA) gets “Buy” rating and $295 price target from Deutsche Bank

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Tesla (NASDAQ:TSLA) has received an optimistic “Buy” rating and $295 price target from Deutsche Bank analyst Edison Yu. The analyst launched his coverage of the electric vehicle maker after former Deutsche Bank analyst Emmanuel Rosner–who used to cover Tesla for the firm–moved to Wolfe Research. 

With his $295 per share price target for TSLA shares, Yu’s estimate for the electric vehicle maker is among the highest on Wall Street. As noted in a Barron’s report, the average analyst price for Tesla stock is around $218 per share, with the highest being Morgan Stanley analyst Adam Jonas’ $310 price target. 

Yu stated that Tesla is not just “an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework.” He also noted that the electric vehicle maker is “in a league of its own and represents our highest conviction secular leader, poised to reshape multiple industries across auto, energy, mobility, and robotics.” 

Yu also mentioned the potential of Tesla’s battery storage business, which is experiencing a substantial amount of growth and profitability. The Deutsche Bank analyst estimated that Tesla’s battery storage business alone could generate about $13 billion in sales by 2025, as noted in an Investing.com report. 

Yu’s comments about Tesla stand in contrast to Deutsche Bank’s previous TSLA analyst, Emmanuel Rosner, who rated Tesla as a “Hold.” His price target for the electric electric vehicle maker was also a conservative $123 per share. Interestingly enough, Rosner also rates TSLA as a “Hold” in Wolfe Research, though he has no price target for the electric vehicle maker. 

Rosner had rated Tesla a “Buy” in the past, though he downgraded the electric vehicle maker to a “Hold” in April. At the time, he argued that Tesla’s lack of a new, lower-priced vehicle would create earnings and cash-flow pressure beyond 2026. He also noted that Tesla’s bet on autonomy has “significant technological, regulatory, and operational” challenges. 

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The post Tesla (TSLA) gets “Buy” rating and $295 price target from Deutsche Bank appeared first on TESLARATI.


Source: https://www.teslarati.com/tesla-tsla-buy-rating-295-price-target-deutsche-bank/


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