Deutsche Bank Analyst Emmanuel Rosner raised TESLA price target, saying the world’s shift to electric vehicles could help “extend Tesla’s EV lead considerably.”
The stock price target was raised to $1,200 from $1,000. After Wedbush and Jefferies analysts raised their price targets on Tesla to $1,400, Piper Sandler’s target is $1,300. The stock has risen 52% in 2021 with only one trading day left.
Deutsche Bank said it continues to believe that:
“Tesla’s trajectory for its battery technology, capacity and especially cost could help accelerate the world’s shift to electric vehicles and extend Tesla’s EV lead considerably.”Deutsche Bank Analyst
The analysts said 2022 could be a “pivotal year for Tesla’s future growth and profitability” citing the ramp-up of two new assembly plants, one in Berlin and the other in Austin, Texas, among other catalysts.
Deutsche Bank raised its estimate on Tesla’s fourth-quarter deliveries to 282,000 units from 268,000, reflecting stronger Model 3 and Model Y deliveries in China. The analysts boosted their fourth-quarter revenue estimate at the EV giant to $16.1 billion from $15.4 billion based on higher volumes. Per-share earnings were lifted to $2.46 a share from $2.22.