While some retail investors were unable to correctly interpret what Tesla presented at Battery Day, Deutsche Bank got the message. Analysts at Deutsche upgraded Tesla to buy from hold, lifting its price target 25% to $500 from $400.
The firm understood several very important aspects that add value to Tesla. While the California-based company won't be able to launch what was presented at Battery Day anytime soon, Tesla has presented a very impressive 10-year roadmap.
Tesla has made impressive progress in developing battery cells and production lines, also unveiling a plan for self-mining of lithium, building two factories (cathode and lithium), and many other fundamental points that will give the company a number of advantages in the future. Not to mention at $25,000 car within three years.
Everything that Tesla presented at Battery Day increased the investment firm's confidence in the manufacturer and gave confidence that the company's stock is a very valuable asset.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.