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Tesla: Deutsche ups target price

( - Tesla shares are up slightly on Wednesday as Deutsche Bank raised its target price from 705 dollars to 890 dollars and reiterated its "buy" rating on the stock.

In a note to clients, the German broker said it expects "solid" fourth-quarter earnings on 27 January, forecasting revenue and EPS of 10.3 billion dollars/1.11 dollar, compared to the consensus of 10.3 billion dollars/one dollar.

For 2021, Deutsche Bank hiked its deliveries forecast from 800,000 units to 825,000 units, and expects management to guide for over 800,000 units this year given continued strong sales of Model 3 and the fast ramp-up of the MIC Model Y.

The Tesla share is currently up 0.2% on the Nasdaq.

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