Market Overview

Tesla Analyst Expects 'Game-Changing' Battery Day Announcements

Share:
Tesla Analyst Expects 'Game-Changing' Battery Day Announcements

Tesla Inc (NASDAQ: TSLA) has finally confirmed its Battery Day will held along with an Investor Day on Sept. 22.

Although it's early, a Wedbush analyst gave their take Monday on how the event will impact Tesla shares, which are already trading at a record high — and what can be expected out of the event.

The Tesla Analyst: Daniel Ives has a Neutral rating on Tesla with a $1,250 price target.

Tesla's Battery Day a Major Catalyst: Aside from the second-quarter print July 22, Tesla's Battery Day will be a major positive catalyst for the stock, Ives said in a Monday note. (See his track record here.)

The analyst expects the company to announce a number of new potential "game-changing" battery developments at its highly anticipated Battery Day.

The technology innovations around Gigafactories and Fremont remain the key ingredients in Tesla's success on the battery front, he said. 

Ives On Tesla's Million-Mile Battery: Ives said he believes the company is getting closer to announcing a million-mile battery.

"In our opinion, this battery technology will be very advanced, potentially last for decades, withstand all types of weather/terrain and be another major milestone for the Tesla ecosystem," the analyst said. 

The battery would be able to support an electric vehicle for 1 million miles and represent a major step forward when competing against traditional gasoline-powered automotive competitors from both a return-on-investment and environmental perspective, he said. 

Wedbush also believes Tesla is working on a number of battery enhancements and new cells as part of its Giga 3 innovations in China, with a focus on storage/density capacity improvements.

The company could also be working on reducing battery production costs to the key $100/kWh threshold for achieving financial flexibility around pricing on current and future EV models with price parity, Ives said. 

Wedbush estimates Tesla will deliver 450,000 vehicles this year.  

TSLA: At last check, Tesla shares were jumping 8.18% to $1,671, and they hit a record intraday high earlier Monday.

Related Links:

Tesla Surpasses Toyota To Take The Crown As World's Most Valued Automaker

How Tesla's Chinese EV Market Is Worth $400 Per Share

Photo courtesy of Tesla. 

Latest Ratings for TSLA

DateFirmActionFromTo
Aug 2020CitigroupMaintainsSell
Jul 2020Morgan StanleyMaintainsUnderweight
Jul 2020BernsteinDowngradesMarket PerformUnderperform

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Daniel IvesAnalyst Color Price Target Reiteration Analyst Ratings Movers Tech Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
AAXNCraig-HallumAssumes94.0
FTIHSBCDowngrades
CVNAB of A SecuritiesDowngrades230.0
TTDStephens & Co.Downgrades470.0
LVGOBenchmarkDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com