Canadian Express analyst raises Tesla's target stock price by 155%
According to foreign media reports, Gatun Beixiang analyst Jed Dorsheimer has cast a 'vote of confidence' in Tesla, saying that Tesla is moving towards Apple-style ecosystem products that are dedicated to the use of renewable energy.
Dorsheimer raised his rating on Tesla from 'Hold' to 'BuyOne hundred million U.S. dollars.
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Although most analysts are concerned about Tesla's automotive business, especially the future growth potential of its autonomous driving technology, Dorsheimer appreciates Tesla's energy business.
Dorsheimer said in the report that, thanks to industry-leading technology and production capacity, Tesla is ready to 'completely' change the battery energy market. With the blessing of Model 3, Model Y and other products, Tesla has successfully transformed into a vector-produced automaker, which will allow it to 'attack and occupy another trillion-dollar market-energy production and storage.' 'We believe that Tesla's first principles project will completely change the battery market, further deepen its leadership in the pure electric vehicle market, and use Powerwall products to expand its solar and household energy markets.'
For Tesla’s opportunities in the solar market segment, Dorsheimer mentioned that the company has made considerable progress in online business growth. 'We believe that Tesla is using solar panels, Powerwall and inverters as driving forces to aggressively bet on the solar field. In 2021, we expect Tesla to launch a product portfolio that includes solar panels, energy storage Powerwall and its energy arbitrage. Software product Autobidder (sell electricity to the grid when it is profitable, and at other times for household use).'
The analyst said that Tesla’s continued battery supply difficulties may ease in 2022. Dorsheimer said: 'We believe that with the launch of Tesla's Texas plant and Berlin plant 4680 cell production, large investments in expanding battery production will begin to pay off in 2022. Cell suppliers Panasonic and LG are also working Cooperated with Tesla to produce 4680 batteries, and Panasonic plans to start production at its partner factory in Nevada at the end of 2021. 'Now, Tesla is using all existing resources to meet battery needs, including internal production and cooperation in Fremont. The partner Panasonic's production in the Nevada Super Factory, the supply agreement with LG, and the recent Chinese-made entry-level Model 3/Y has been converted to use Ningde era lithium iron phosphate batteries. However, the company's current battery should be limited. Especially Semi, Cybertruck and Roadster are waiting for the production of new 4680 cells.
