William Blair analyst Jed Dorsheimer wrote in a recent note that Tesla Energy is giving off Apple-type of energy. Dorsheimer gave TSLA a BUY rating, but did not provide a price target.
Dorsheimer believes that Tesla’s potential robotics offerings, like robotaxi and Optimus, plus its other products, including electric vehicles (EVs), energy storage units, solar, and software, pave a way for the company to offer an “Apple-esque” energy ecosystem. He forecasts that Tesla hardware—EVs, robotaxis, robots—mixed with its software would fit well in homes, utilities, and businesses.
According to Barron’s, the William Blair analyst’s BUY rating basically means it expects Tesla stock to outperform the market. Dorsheimer predicts that Tesla’s energy storage business is an underappreciated asset.
In the second quarter, Tesla reported a 100% year-over-year increase in its energy storage and generation business. The company’s Tesla Energy division accounted for 12% of its sales in Q2 2024.
Dorsheimer argues that Tesla’s energy-storage business, which includes the Powerwall and the Megapack, should receive more attention than its EV division as growth in the electric vehicle business “moderates.”
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