Deutsche Bank resumed coverage of Tesla with a buy rating, calling it a top pick.
He also notched his price target $4 higher to $80, implying shares could gain 16.6% from Monday's close.
Along with the new iPhone 16 line, the company unveiled Apple Intelligence for beta rollout next month, or new artificial intelligence capabilities for the iPhone.
The iPhone 16 and 16 Plus are available for pre-order starting Friday.
"At the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework," the analyst wrote.
Persons:
Andrew Obin, Obin, — Hakyung Kim, David Vogt, Vogt, Morgan Stanley, Erik Woodring, Woodring, Goldman Sachs, Michael Ng, Ng, Bernstein, Douglas Harned, Harned, Daniela Nedialkova, Hakyung Kim, Tesla, Edison Yu, Yu, Fred Imbert
Organizations:
CNBC, Deutsche Bank, Atlantic, Costco, Bank of America, Johnson, Wall Street, Apple Intelligence, UBS, Apple, GE Aerospace GE Aerospace, GE Aerospace, GE
Locations:
Monday's