German financial firm Deutsche Bank on Tuesday hiked its price target on Tesla's (TSLA) - Get Report stock to $320 from $240 on the disruptive nature driven by Tesla's electric trucks.

Deutsche Bank analyst Rod Lache, who maintained his "Hold" rating on the electric automaker's stock, contends Tesla's electric trucks, first announced this summer, will come to market sooner than expected and carry an inherent competitive advantage to its peers.

"We expect Tesla's Electric Trucks to come soon, with [standard operating procedures] in late 2018 based on plans to utilize slightly less vertical integration (Tesla does not see any reason to make their own Cabs or Gliders), and common sourcing with Tesla's light vehicles (uniquely possible for EV's)," Lache noted.

The early-than-expected introduction to market combined with Tesla's "leadership in AI/Autonomous Driving" could represent a "significant" edge to its competitors. "We believe that Autonomous Vehicles will be deployed sooner than expected," Lache added.

In July, Tesla CEO Elon Musk said he would to release a prototype of the truck in an effort to expand the electric automaker's fleet beyond just luxury cars.

Shares of Tesla were moving lower 1.6% in midday trading on Tuesday.

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