As Tesla Inc. (NASDAQ: TSLA) stock held above a major multi-year support zone, a Deutsche Bank analyst reiterated bullish sentiment.
In a note to clients on July 15, Deutsche Bank maintained a Buy rating for Tesla stock. Additionally, the bank set a 12-month price target of $465 for TSLA shares, signaling a potential 17% upside.
“The analyst maintains a constructive long-term outlook on Tesla, emphasizing durable growth drivers (autonomy, robotics, and AI) while acknowledging near-term earnings pressure,” the bank noted.
Deutsche Bank expects Tesla to report Q2 adjusted earnings per share of $0.36, which falls short of the Street consensus of $0.47. Nevertheless, the firm projects the company’s full-year vehicle deliveries of approximately 1.77 million units, representing mid- to high-single-digit growth compared to the prior year.
Why is Deutsche Bank bullish on Tesla stock?
The bank highlighted several key developments in Tesla’s autonomous and robotics initiatives, likely to act as a tailwind. While the Tesla Robotaxi rollout has progressed more slowly than market expectations, Deutsche Bank pointed out that commercial operations in Austin have yet to experience any major accidents.
Meanwhile, Cybercab production has begun but is described as facing a “slow and painful ramp,” with the focus currently on engineering validation and internal testing ahead of broader scaling in late 2026 and 2027. On the robotics front, the bank noted optimistic targets for the Optimus humanoid, with production guidance of roughly 1,000 units per week by September.
Additionally, Tesla’s AI5 chip has completed tape-out, with initial supply prioritized for the company’s AI supercomputer and Optimus program. The upcoming Tesla earnings call is expected to draw significant investor attention to potential integration opportunities between Tesla and SpaceX, a topic analysts believe could become increasingly prominent over the next one to two years.
Despite these long-term tailwinds, Deutsche Bank flagged risks for Tesla stock, including the delayed Robotaxi timeline and execution challenges around the Cybercab ramp.
TSLA stock forecasts 2026 and performance
Following the bank’s bullish TSLA stock forecast 2026, 29 analysts surveyed by TipRanks have set a 12-month price target of $402.69. As such, analysts have assigned Tesla stock an average rating of Hold for the next 12 months.
Meanwhile, TSLA shares have been on an uptrend over the past 12 months, up over 23% to $396.67 at press time.
As such, the company had a market capitalization of approximately $1.5 trillion at the time of reporting. If Tesla stock continues to benefit from bullish macro sentiment, the bank’s and analysts’ targets could be met, and vice versa.
