Tesla: Deutsche Bank now a buyer
(CercleFinance.com) - On Wednesday Deutsche Bank upgraded its rating on the Tesla share from "hold" to "buy", raising its corresponding target price from 400 dollars to 500 dollars.
In a research note, the broker believes that yesterday's "Battery Day" organised by the electric vehicle manufacturer highlighted an "impressive" trajectory in terms of technology, capacities and costs.
For Deutsche Bank, the path mapped out by Tesla should help accelerate the transition to electric vehicles worldwide and accentuate the technological lead taken by Elon Musk's group.
While the share opened down 6% this morning in New York, Deutsche Bank recommends that investors take advantage of this weakeness to buy shares and play the theme of an electrification of the automotive sector.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research note, the broker believes that yesterday's "Battery Day" organised by the electric vehicle manufacturer highlighted an "impressive" trajectory in terms of technology, capacities and costs.
For Deutsche Bank, the path mapped out by Tesla should help accelerate the transition to electric vehicles worldwide and accentuate the technological lead taken by Elon Musk's group.
While the share opened down 6% this morning in New York, Deutsche Bank recommends that investors take advantage of this weakeness to buy shares and play the theme of an electrification of the automotive sector.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.