Tesla gets two price target hikes ahead of Tuesday's Battery Day

A Tesla Model S is displayed during the London Motor and Tech Show at ExCel on May 16, 2019 in London, England.
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Tesla's widely-anticipated Battery Day is coming up on Tuesday, Sept. 22, and analysts are raising their targets ahead of the event.

"While media and investors' expectations for the event are high, we believe these announcements could meet many of them, and reinforce Tesla's position as a technology leader," Deutsche Bank said in a note to clients Wednesday, while raising its target on the stock to $400 from $280.

Credit Suisse also raised its forecast on Wednesday — from $280 to $400 — calling batteries "Tesla's pillar of growth for the next two decades."