Connect with us

Base Metals

Tesla Battery Day: Look Out for the Devil in the Details, Suggests Analyst

Tesla’s (TSLA) highly anticipated Battery Day is finally upon us and the excitement is palpable on Wall Street. After market close today, Tesla will host the long-delayed event and looking
Read More…
The post Tesla Battery Day: Look Out for the Devil in the Details, Suggests Analyst appeared first on TipRanks Financial Blog.

Share this article:

Published

on

This article was originally published by TipRanks

Tesla’s (TSLA) highly anticipated Battery Day is finally upon us and the excitement is palpable on Wall Street.

After market close today, Tesla will host the long-delayed event and looking ahead to the shenanigans, Canaccord analyst Jed Dorsheimer expects there will be “a plenty for everyone.”

Expounding on this, the analyst said, “Bulls are likely to highlight a 1-million-mile battery or perhaps the CO2 light supply deals. Bears will highlight that TSLA promotions typically fail to materialize, a valid concern, and a shift towards more difficult milestones (SEMI, CyberTruck, and competition). Our take? We think the day will be a trove of tangential ways for investors to capitalize on a shifting market for BEVs.”

Dorsheimer expects the announcement of “new anode chemistry.” Adding to last year’s Maxwell acquisition, the analyst anticipates a partnership with a silicon-based solution provider such as Sila Technologies “to gain performance benefits without the swelling.”

Additionally, Dorsheimer expects a number of shrewd supply agreements “on the cathode side of the equation.”

More info on battery management, and clarity over concerns of “LFP (lithium iron phosphate batteries) beyond China” could also be on the agenda. However, concerning the latter, per noises from Tesla’s direction, it appears unlikely and indicates to Dorsheimer that “the company is worried about competition in Europe.”

In conclusion, Dorsheimer signs off by sounding a note of caution and believes the “big question will be on follow through.”

“It’s one thing to announce all these breakthroughs, which might be great for momentum algorithms,” the analyst said, “But like most things TSLA, the devil will be in the details, which sadly will take some time to play out.”

So, can the Battery Day event catapult Tesla shares higher?

Dorsheimer believes it’s best to stay on the sidelines for now. The analyst reiterated a Hold rating on TSLA along with a $442 price target. Therefore, the analyst expects shares to remain range bound for the foreseeable future. (To watch Dorsheimer’s track record, click here)

Overall, Wall Street is not convinced that Musk’s tech empire’s reward is worth all the risk, especially when taking note that TipRanks analytics exhibit TSLA as a Hold. With a potential downside of 26%, the stock’s consensus target price stands at $314.27. (See Tesla stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Tesla Battery Day: Look Out for the Devil in the Details, Suggests Analyst appeared first on TipRanks Financial Blog.


Share this article:

Uncategorized

Guy on Rocks: A cheap copper stock to help keep the family together in Business Class

The market has already factored in a recession but with iron ore showing signs of life, no one’s flying Economy … Read More
The post Guy on Rocks: A…

Share this article:

Continue Reading
Uncategorized

Explorers are spending cash like never before and the world’s green dream means it’s likely to continue

ASX-listed explorers are spending more than ever, driven by demand for battery metals for the transition to green energy and … Read More
The post Explorers…

Share this article:

Continue Reading
Uncategorized

Where Are Copper Prices Heading In 2023? — With Daniel Earle

Joining us on the Daily Dive today is Daniel Earle, president & CEO of Solaris Resources (TSX: SLS). Daniel joins
The post Where Are Copper Prices…

Share this article:

Continue Reading

Trending