Tesla Investor Day is just over a week away, and the automaker’s potential developments have already influenced one firm to push its price target higher.
Deutsche Bank’s Emmanuel Rosner increased his price target on Tesla stock (NASDAQ: TSLA) to $250, up from $220, based on Investor Day’s already-known details, especially the automaker’s reveal of the third rendition of the Master Plan.
Rosner said in a note to investors that he expects Tesla’s Master Plan Part 3 to help drive the automaker’s plans for a long-term growth strategy. Tesla has increased sales every year, with its most recent performance of 1.313 million cars delivered last year being its best performance to date. CEO Elon Musk said recently that Tesla could deliver two million cars in 2023, although most analysts have slotted out roughly 1.7 million units as their outlook.
However, the Master Plan Part 3 will also be backed by several other things at the event, Rosner said he expects. Along with that, Tesla could bring forth more details regarding the upcoming next-generation vehicle platform, which looks to bring in a wider customer base through more affordable options.
Along with more macro-based developments for Tesla, Rosner expects more updates on the Full Self-Driving v11 software, Hardware 4 developments, updates on Cybertruck, Semi, and Model 3 Highland production, as well as more details on the ramp-up of Tesla’s Energy business, which flies under the radar.
“All in, we believe that increased clarity around the long-term trajectory for Tesla’s global operations, volume growth, and especially scale and cost of Tesla’s next-generation models, could reinforce the bull case for the stock,” Rosner said in the note.
Tesla Investor Day was described by Elon Musk as something far greater than those who have put their money into supporting the company. “By this, we mean the broadest definition of investor, as in the people & life of Earth,” he said.
Tesla already stated that its next-gen vehicle platform is under development, but there is more than meets the eye with many of the company’s plans, especially as it is historically cryptic with what it puts out there prior to these events.
Disclosure: Joey Klender is a TSLA Shareholder.
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