Yahoo Finance Tesla receives Buy rating from Deutsche Bank
Deutsche Bank analyst Edison Yu is initiating coverage of EV maker Tesla (TSLA) with a Buy rating on the stock and a price target of $295 per share.
Market Domination anchors Julie Hyman and Josh Lipton look at the analyst note from Yu and his outlook of the broader automotive universe.
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This post was written by Luke Carberry Mogan.
Video Transcript
All right, let's get to some calls of the day now sponsored by Tasty Trade Deutsche Bank in issuing coverage on Tesla with a buy rating.
The note highlighting that Tesla is not quote an automaker but rather a technology platform.
It stocks pop about 4%.
So we just spoke to Gil Luria from D ad and he says it is a car company, Julie Hyman Deutsch Bank says, no, no, hold on.
It isn't just a car company how you value the stock.
He's basically telling his client that has to take that into account.
Analysts saying at the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries deserving of a unique type of evaluation framework.
He does initiate with a buy his price target 295.
As they say, that's what makes the market, right?
I love that these two notes came out on the same day.
It's Edison, you over at Deutsche Bank who is um initiating coverage, who is the one who is taking over coverage um uh of the autos after the departure of Emmanuel Rosner.
So interesting here.
The note by the way today is on Tesla.
But he also initiated coverage of the broader universe of automakers and looking at that universe.
He talks about liking General Motors in the near term over Ford because of the buyback and belief it can beat numbers.
He said longer term Ford, he says seems more interesting based on its pivot towards its skunk work efforts.
But he says, forget about for those we like Tesla the best and, and coming up, we got the robo tax event October 10th on that Deutsche Bank saying the analyst, he he's bias is positive but will be tactically cautious coming out of the event could be sell the news reaction.
I mean, and, and we'll see, even though they are showing something that day, we have no idea when it will go to market what it will mean financially for the revealed maybe or maybe not something.
