Investors looking for a good time to buy Tesla stock should act now. At least that’s Deutsche Bank’s conclusion in its latest update. Reason: Q2 figures provide scope for improvement.
Since the high, Tesla shares have lost almost 30 percent. Compared to many other technology values, the paper of the electric car pioneer has held up quite well. If Emmanuel Rosner, an analyst at Deutsche Bank, has his way, the time has come to stock up.
On July 20, after the US market closes, Tesla will report its Q2 results. Rosner sees the electric car maker as likely to report better earnings than Wall Street’s expectations. Management may exceed volume expectations and confirm full-year delivery growth of 50 percent, according to an industry expert.
“We think the share’s decline of more than 30% over the past year is largely due to supply issues, which are improving rapidly and provide a good opportunity to accumulate shares in the second half of the year and into 2023.”
“We think the stock decline of more than 30% over the last year is largely due to supply issues, which are improving rapidly and provide a good opportunity to accumulate stock through the second half of the year and 2023, where volume growth will pick up and volume expansion. may be important,” analyst Emmanuel Rosner wrote in a note on Monday.
“Even if volume is lacking in Q2, we think investors should use the stock’s return to gain exposure as volume pressure is temporary this quarter and long-term operating upside remains,” added Rosner.