Deutsche Bank analyst says Tesla's stock deserves a "unique" valuation

Deutsche Bank analyst Edison Yu has a different view on the valuation of Tesla's stock. He believes that Tesla is not just a car company. He stated, "Fundamentally, we do not see Tesla as a car manufacturer, but as a technology platform trying to reshape multiple industries, deserving a unique valuation framework." On Tuesday, he initiated coverage on Tesla stock for the first time, giving it a "Buy" rating with a target price of $295, and advised investors to overlook the "temporary" weakness in vehicle deliveries and profit margin trends. Tesla rose by about 3.5% in early trading on Tuesday, making it one of the leading stocks in the S&P 500