**Deutsche Bank Upgrades Tesla with Buy Recommendation**
On July 3, 2023, Deutsche Bank reaffirmed its Buy recommendation for Tesla (NASDAQ: TSLA). The average one-year price target for Tesla is $184.69, indicating a potential downside of 29.45% from its latest closing price of $261.77, with targets ranging from $24.58 to $294.00.
**Ownership and Institutional Sentiment**
As of the last quarter, 4,034 funds reported holding positions in Tesla, a 5.24% increase. The average portfolio weight for all funds invested in TSLA rose by 20.36% to 1.11%. Total institutional shares owned decreased slightly by 0.12% to 1,553,294,000 shares. Moreover, the put/call ratio for TSLA stands at 0.82, suggesting a bullish market outlook.
**Revenue and Earnings Projections**
Tesla is projected to achieve annual revenue of $118.52 billion, marking an increase of 37.75% year-over-year. The expected non-GAAP EPS is set at $5.70, reflecting strong confidence in the company’s earnings potential amid growing institutional support.
