"Ahead of 3Q25 deliveries next week, we raise our near-term estimates given stronger volume in the quarter, but keep our full-year and 2026 outlook mostly unchanged. We think Elon Musk's clear focus on Tesla's most important efforts (Robotaxi and Optimus) and the recent compensation package have removed a large overhang on the stock going forward, will allow Tesla to benefit from being a leader in embodied AI."
"We expect +20% growth in China and N. America, with some decline in Europe as competition and branding continue to weigh in on demand,"
"This year, Tesla has had an up-and-down performance on Wall Street, but gains over the past month have overshadowed much of the skepticism and pressure on the stock."
Deutsche Bank raised its Tesla price target to $435 from $345, citing recent catalysts that removed a large overhang on the stock. The firm raised near-term estimates ahead of 3Q25 deliveries while keeping full-year and 2026 outlooks mostly unchanged. Deutsche Bank highlighted Elon Musk's compensation package and the company focus on Robotaxi and Optimus as strategic positives that position Tesla as a leader in embodied AI. The firm expects quarterly deliveries of 461,500, projecting roughly +20% growth in China and North America and some decline in Europe amid competition and branding pressures. IR consensus deliveries sit near 443,100.
Read at TESLARATI
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