Tesla stock is set to rip higher, analyst says after visiting Germany Gigafactory

After spending a week in Berlin touring Tesla’s new Gigafactory, Deutsche Bank analyst Emmanuel Rosner is feeling even more upbeat on Tesla stock.

Here are the key details of a new bullish note from Rosner on the EV maker:

Price Target: $375

Rating: Buy

Upside Assumed: around 24%

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“We hosted investors last week in Berlin for a guided tour of Tesla’s new Gigafactory, test drives of the Model Y Performance at high speed on the Autobahn, and a meeting with Head of IR Martin Viecha,” Rosner wrote. “We came away with the sense that Tesla’s new localized vehicle production in Europe could be a game-changer, making Tesla to an even more formidable competitor in the region, while likely boosting the company’s gross margins. The plant is already capacitized to produce 500k Model Y per year, but currently only staffed with 2 shifts; Tesla plans to increase to 4 shifts and full production…

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This article was written by and originally published on finance.yahoo.com