TECH - Elon Musk's EV Giant Will See Revenue From Its Auto Business Slumping This Year But Tesla 'May Hold Some Important Cards In The Evolution Of The US Grid' Says Analyst | Benzinga
Morgan Stanley analyst and Tesla Inc (NASDAQ:TSLA) bull Adam Jonas forecasts Tesla’s revenue from its energy segment to rise this year as its core EV business witnesses a revenue fall.
What Happened: Jonas values Tesla Energy at $36 per share of his $310 price target for the company. The bull is optimistic for the segment and expects it to add over $1 in earnings per share by 2030 excluding incentives.
The analyst said in a note on Tuesday that the acceleration in the field of generative AI will create an increase in demand for energy which Tesla is well positioned to benefit from.
“We believe that Tesla’s capability in distributed energy generation (solar) and storage (powerwall/ megapack) may hold some important cards in the evolution of the US grid as energy usage of compute/ data grows,” Jonas wrote while adding ...