Deutsche Bank analyst Edison Yu raised the firm’s price target on Tesla (TSLA) to $435 from $345 and keeps a Buy rating on the shares ahead of next week’s Q3 deliveries report. The firm expects 461,500 deliveries for Q3, roughly flat year-over-year but up 20% quarter-over-quarter, and well ahead of the consensus estimate of 433,000. The consensus expectation of 1.6M deliveries for 2025 still appears achievable, the analyst tells investors in a research note. Deutsche upped Tesla’s near-term estimates citing stronger volume in the quarter but keep its 2025 and 2026 outlook mostly unchanged. Tesla CEO Elon Musk’s compensation package “removed a large overhang” on the stock will allow Tesla to benefit from being a leader in embodied artificial intelligence, contends Deutsche Bank.
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