William Blair analyst Jed Dorsheimer has maintained their neutral stance on TSLA stock, giving a Hold rating on September 8.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jed Dorsheimer has given his Hold rating due to a combination of factors that influence Tesla’s current market position. While the introduction of the new Megablock system is a significant advancement in grid storage, showcasing Tesla’s ability to simplify and vertically integrate its products, there are still uncertainties that need to be addressed. The Megablock’s integration of battery, transformer, and switchgear into a single system is indeed a game changer, reducing installation time and costs significantly, which supports a bullish outlook on Tesla’s energy storage business.
However, Dorsheimer remains cautious, as he is waiting to observe how Tesla’s margins will adjust following the anticipated elimination of environmental tax credit revenue in the latter half of the year. Despite the positive momentum in Tesla’s energy business and the promising potential of its robotaxi initiative, these financial uncertainties contribute to the decision to maintain a Hold rating. The analyst is closely monitoring how these developments will impact Tesla’s overall financial performance before considering an upgrade in the rating.
In another report released on September 8, Robert W. Baird also reiterated a Hold rating on the stock with a $320.00 price target.