(CercleFinance.com) – Deutsche Bank has raised its target price on Tesla, from $375 to $400, while renewing its buy recommendation on the stock.
In a study released this Friday, the broker points out that the progression of the Californian manufacturer’s gross margin has tended to slow down this year due to the impact of containment measures on the activity of its factories and the start-up of new sites. , which should not prevent this indicator from remaining on the upside in 2022.
Looking to the next fiscal year, Deutsche estimates that Tesla could improve its gross margin by 300 percentage points year-over-year, thanks to the ramp-up of production sites with lower cost of goods sold (COGS) .
According to the broker, the 2023 financial year promises to be ‘crucial’ for Tesla due – among other things – to the rapid growth of its volumes, the planned launches of the Cybertruck and the Semi and the optimization of its industrial footprint.
In the longer term, the group’s profit margins could improve further, he promises, a prospect he considers promising knowing that the manufacturer’s volumes of electric vehicles are set to increase.
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