Tesla’s 3-for-1 stock split took place last month, and one firm is emphasizing how strong the stock looks despite the current economic and supply chain landscape.
In a memo to clients this week, Deutsche Bank analyst Emmanuel Rosner reiterated a Buy rating and said the firm remains “impressed” with Tesla, noting the automaker’s operational execution despite supply chain challenges (via @Sawyer Merritt).
“Beyond the quarter, we remain impressed with Tesla’s operational execution in the face of large industry supply chain challenges and note that the company is working its way to ramp up volume in lower COGS regions,” wrote Rosner in a note to clients. “The Shanghai factory has recently completed a project to expand production capacity to 22,000 units of Model 3 and Model Y per week, while Berlin and Texas are expected to end the year at 5,000 units per week.”
Tesla AI Day ‘Will Be Highly Technical’ and for Recruiting Engineers: Musk https://t.co/p9NC8AwPP2
— TeslaNorth.com (@RealTeslaNorth) September 29, 2022
In addition to reiterating a Buy on Tesla’s stock, Deutsche Bank also reiterated a $400 price target on the automaker.
Last month, Deutsche Bank also noted Tesla’s Giga Berlin as a potential game changer for the stock, before boosting the automaker to its current price target from $375.
Earlier this week, CEO Elon Musk emailed Tesla employees requesting help with a “very high volume” of deliveries ending Q3.
