Analyst Reveals Bold ‘Apple-Like’ Tesla Stock Predictions.

In 1895, Nikola Tesla designed the first hydroelectric plant at Niagara Falls, NY, a key milestone in the electrification of the world. More than a century later, Elon Musk had a similar dream of driving the future of electricity.

But recent news has the public wondering if Musk will keep his promises.

Noticed that everything is published on Tesla (TSLA) blog before 2019 was deleted, including its 2006 “Secret Master Plan” climate manifesto, according to Forbes.

“Build a sports car, use that money to build an affordable car, use that money to build an even more affordable car,” he wrote in the plan, and “while doing the above, also provide power generation options electricity with zero emissions”.

Related: Analyst updates Tesla stock forecast ahead of key October event

Musk’s current focus areas include the robotaxi service, a self-driving ride-hailing system scheduled to debut in October, and Donald Trump.

Musk publicly announced his support for Trump shortly after an assassination attempt in July and spoke with the former US president online for two hours in August, with up to 1.3 million listeners on X, formerly Twitter.

Despite Tesla’s recent earnings decline, analysts recently recommended Tesla stock.

James Ochoa

Tesla tumbled after missing Q2 earnings

Tesla missed earnings estimates for the June quarter, posting 52 cents per share, compared with the 62 cents expected. Revenue was $25.5 billion, slightly above the $24.77 billion forecast, while auto sales and leasing revenue fell 6.5 percent to $19.9 billion.

Tesla’s electric vehicle sales picked up speed this quarter and lost market share to rivals.

Data from Cox Automotive shows that sales of electric vehicles for non-Tesla brands in the United States rose 33% in the first half of 2024. But sales of Tesla’s electric vehicles fell 9.6%, InsideEVs reported.

However, the company thrives in the energy business, which includes solar panels, charging stations and batteries for residential homes and utility companies.

In the second quarter, Tesla’s energy generation and storage segment generated $3 billion in revenue, double the $1.5 billion a year ago.

Related: Tesla Quietly Makes Controversial Cybertruck Makeover

“Both Megapack and Powerwall saw record deployment in Q2, resulting in 9.4 GWh of total storage deployments. Overall, the Energy business achieved record revenue and gross profit in Q2,” the company said in a press release. Megapack and Powerwall are Tesla’s lithium-based battery energy storage products.

The energy segment represented only 12% of total revenues. Tesla’s most important business remains automobile sales, accounting for nearly 78%.

Analyst Says Tesla Stock Is a Buy; here’s why

Despite Tesla’s earnings decline, investment bank William Blair recently recommended Tesla stock.

Analyst Jed Dorsheimer initiated coverage on Tesla with an Outperform rating. He says the company is developing an energy ecosystem that is “Apple-like” when combined with the automotive business and longer-term opportunities such as artificial intelligence, robotaxi and robotics.

“We view Tesla Energy as the most underappreciated component of the Tesla story and expect the narrative to shift to the energy storage business in light of tempered EV expectations in the near term,” Dorsheimer said in his note, adding that Megapack and Tesla’s Powerwalls are “industry leading products”.

More Wall Street analysts:

• Analysts reset price target on Grand Theft Auto maker’s stock
• Stock market analyst American Express signals the change in consumer behavior
• Analyst resets Nvidia stock price target ahead of earnings

Piper Sandler analyst Alexander Potter also advises buying Tesla shares, citing the company’s growing profits from large stationary batteries and advances in full self-driving software.

The analyst projects a long-term gross margin of 20% for Tesla Energy and maintains an overweight rating on Tesla stock with a price target of $300.

Tesla closed at $214.11 on August 30, up 3.8%. Still, the stock is down 7.7% for the month and is still down 13.8% for the year.

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