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Deutsche Bank has issued a Buy rating for Tesla, Inc., which specializes in designing, building, and selling electric vehicles. The company's net sales are primarily derived from automotive vehicle sales (74.2%), with additional revenue from services (10.8%), energy systems (10.3%), automotive credits (2.8%), and leasing (1.9%). By the end of 2024, Tesla operates eight manufacturing sites across the U.S., China, and Germany, with net sales distributed as follows: 48.9% in the U.S., 21.4% in China, and 29.7% in other regions.
Analysts at Deutsche Bank predict Tesla's Q1 deliveries will hit 345,000, marking an 11% year-on-year decline and the lowest since 2022, attributed to weakness in Europe and the Model Y changeover. They also noted potential brand damage in Western Europe and parts of North America due to Elon Musk's political activities.In a separate development, Meta is shifting back to its roots by revamping its Friends tab to prioritize posts from users' connections, reminiscent of Starbucks' efforts to return to its original customer experience under new CEO Brian Niccol.
Christian Sewing is set to become Deutsche Bank AG’s longest-serving sole CEO, with his term extended until 2029, totaling 11 years in the role. He has successfully guided the bank out of a crisis marked by losses and scandals, leading to sustained profits and regular investor payouts. This stability contrasts with the rapid CEO turnover seen prior to his leadership, where predecessors held the position for only a few years.
Deutsche Bank has appointed Raja Akram, previously Deputy CFO at Morgan Stanley, as its new Chief Financial Officer, effective October 1. Akram, who has a strong background in finance and leadership roles, will succeed James von Moltke and join the management board on January 1, 2026. This transition is part of the bank's broader management restructuring aimed at enhancing its growth strategy.
Deutsche Bank has appointed Raja Akram, currently deputy CEO at Morgan Stanley, as its new CFO, effective next year, succeeding James von Moltke. CEO Christian Sewing's term has been extended until April 2029, while chief legal officer Stefan Simon will depart in May.In other news, Alexis Kohler, a key adviser to President Macron, will join Société Générale as executive VP in June, overseeing investment banking teams amid the bank's turnaround strategy following recent scandals.
Deutsche Bank has reduced its price target for Tesla from $420 to $345. This adjustment reflects changing market conditions and expectations for the electric vehicle manufacturer.
Deutsche Bank has reduced its price target for Tesla following disappointing first-quarter delivery figures. The adjustment reflects growing concerns about the company's performance amid increasing market pressures.
Stefan Simon, the bank chief who enhanced Deutsche Bank's Anti-Financial Crime (AFC) processes, has announced his departure for personal reasons. He has held various roles, including CEO of the Americas and Chief Legal Officer, and will be succeeded by Fabrizio Campelli, with Paul Maley stepping in as interim CEO. Chairman Alexander Wynaendts expressed gratitude for Simon's contributions to the bank's regulatory relationships and growth strategy in the Americas.
Stocks to watch include Lululemon, General Motors, and Deutsche Bank, as market participants keep an eye on their performance and potential impacts on the broader market. Investors are particularly interested in any developments that could influence stock prices and company outlooks.
Deutsche Bank has lowered its price target on Tesla to $345 from $420 while maintaining a Buy rating. Tesla, Inc. primarily generates revenue from automotive vehicle sales (74.2%), with additional income from services (10.8%), energy systems (10.3%), automotive credits (2.8%), and leasing (1.9%). By the end of 2024, Tesla will operate eight manufacturing sites across the U.S., China, and Germany, with net sales distributed mainly in the U.S. (48.9%) and China (21.4%).
Deutsche Bank Money Market PP
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