Ahead of electric vehicle (EV) maker Tesla’s (TSLA) third-quarter deliveries update, Deutsche Bank analyst Edison Yu hiked his price target for TSLA stock to $435 from $345 and reiterated a Buy rating. While Yu expects stronger Q3 volumes, he attributed the increase in his price target to a higher multiple in Tesla’s robotaxi and humanoid robot businesses.
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TSLA stock has risen 21% over the past month, bringing the year-to-date movement to 5%.
Deutsche Bank Is Bullish on TSLA Stock
Yu expects Tesla to report stronger Q3…
