Deutsche Bank analyst Emmanuel Rosner upgraded Tesla to Buy from Hold with a price target of $500, up from $400. Last night’s Battery Day showcased an “impressive trajectory” for Tesla’s technology, capacity and cost, which should help accelerate the world’s shift to electric vehicles and extend the company’s lead “considerably,” Rosner tells investors in a research note. The stock in premarket trading is down 4.5%, or $19.18, to $405.05. While investor expectations into the event were high, Tesla’s plan to achieve 56% reduction in battery cost over the next three years came in “considerably better than anticipated, and could materially boost its volume and margin outlook,” says the analyst. Rosner increased Tesla’s earnings estimates to incorporate lower battery costs and higher volumes, and the analyst now sees the company delivering 2M-plus vehicles and generating $15 in earnings per share by 2025. With the stock down as traders “sell the news”, longer-term investors should take advantage of weakness to buy Tesla as the best way to invest in vehicle electrification, concludes Rosner.