Elon Musk wants to bring a Tesla (TSLA) to the market at a bargain price – which can also drive completely autonomously. “We are confident that we can build a very, very convincing electric car for $ 25,000,” said the star entrepreneur on Tuesday (local time) at Tesla’s “Battery Day” in Fremont, California. However, customers still have to be patient and this is why TSLA stock went down after long awaited Battery Day.
Since the tech billionaire mainly delivered dreams of the future, the high expectations of the event, at which observers had speculated on groundbreaking innovations in the production of car batteries, were ultimately not fulfilled. Efficient and inexpensive batteries are a prerequisite for electromobility to establish itself in the mass market.
And since Tesla shares a very long play, the Battery Day was recognized at Deutsche Bank as an extraordinary event. That is why Deutsche Bank analyst Emmanuel Rosner upgraded Tesla shares to Buy from Hold with a $500 price target.
Furthermore, Goldman Sachs analyst Mark Delaney raised the firm’s price target on Tesla to $400 from $295 and keeps a Neutral rating on the shares following last night’s Battery Day. The new target is based on potential for accelerated electric vehicle adoption
With a market value of $400 billion, Tesla is currently by far the most heavily traded automaker in the world.