Deutsche Bank reiterated a Buy rating on Tesla and raised their 12-month price target
This is a conservative rating but still is 'buy'. The target price could have been higher if not for the recent correction and RSI indicator showing overbought. The bank also didn't consider artificial intelligence as the growth driver for Tesla.
Quote:
Deutsche Bank reiterated a Buy rating on Tesla and raised their 12-month price target on the stock to $230.00 (From $200.00) ahead of the company’s 2Q23 deliveries and earnings report.
Tesla is scheduled to report its delivery and production numbers for the second quarter of 2023 during the upcoming weekend. Deutsche Bank revised their estimates for the second quarter's deliveries to 448,000 units, indicating a 76% year-on-year increase and a steady 6% quarter-on-quarter growth. Deutsche Bank estimates Tesla delivered about 153k units of Model 3+Y in China, with the rest to come from North America (168k), Europe (87k), and the rest of the world (23k).
Tesla is scheduled to report its delivery and production numbers for the second quarter of 2023 during the upcoming weekend. Deutsche Bank revised their estimates for the second quarter's deliveries to 448,000 units, indicating a 76% year-on-year increase and a steady 6% quarter-on-quarter growth. Deutsche Bank estimates Tesla delivered about 153k units of Model 3+Y in China, with the rest to come from North America (168k), Europe (87k), and the rest of the world (23k).
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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73059841 : Do not forget that TESLA is not only about EV. This Cie is in others sectors such as sun power, Robots, AI, Social media, Space. So this company may be well performing because of is divers industrial activities and Elon Musk is always looking for solutions in solving worlds problems as an engineer.
ZnWCOP 73059841: I totally agree. Tesla is not just a carmaker, it's a tech company. When invest in Tesla, we're also putting our bet in the tech companies which Elon Musk is holding.