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
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas predicts a decline in Tesla's auto revenue but expects significant growth in its energy segment. Tesla Energy is valued at $36 per share of Jonas's $310 price target, with anticipated revenue of $7 billion in 2024, up 20% from 2023. Tesla's energy margins are expected to surpass auto margins this year.
June 26, 2024 | 11:59 am
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Morgan Stanley analyst Adam Jonas forecasts a decline in Tesla's auto revenue but significant growth in its energy segment. Tesla Energy is valued at $36 per share of Jonas's $310 price target, with anticipated revenue of $7 billion in 2024, up 20% from 2023. Tesla's energy margins are expected to surpass auto margins this year.
The news highlights a shift in Tesla's revenue streams, with a decline in auto revenue but significant growth in the energy segment. This could positively impact Tesla's stock price in the short term as investors may view the diversification and growth in the energy sector favorably.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100