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Tesla Energy gets positive outlook over its solar and batteries’ momentum

By @Maria Merano from Twitter

Canaccord Genuity maintains a positive outlook for Tesla Energy’s future after TSLA’s Q1 2021 earnings call. In a note shared by Street Guru, Canaccord wrote that Tesla is becoming “The Brand” in energy generation and storage.

Canaccord maintains a BUY rating for TSLA but reduced its price target from $1,071 to $971 to reflect near-term headwinds. The company arrived at its price point by applying 60 times their 24 EV/EBITDA estimate of $18 billion.

Canaccord expects accelerated growth in Tesla’s energy generation and storage business. It estimates that Tesla Energy’s business will grow above $8 billion in revenue in 2025 with gross margins at parity or better than its BEV business.

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