Tesla Motors (TSLA) / Elon Musk 03 (Jan 24 - Dec 26)

[winston]

not vested

Tesla Inc – Not much to like
Recommendation : SELL (Downgraded); TP: US$135.00, Last Close: US$215.99
Analyst: Jonathan Woo

2Q24 revenue was in line with expectations.

Adj. PATMI (excl. SBC) was below due to lower EV pricing and EU tariffs.

1H24 Revenue/Adj. PATMI was at 45%/40% of our FY24e forecasts.

Doubling in energy storage revenue helped to offset EV declines.

Lower volume, pricing, and EU tariffs are expected to weigh on near-term margins.

TSLA auto gross margin (excl. credits) of 14% was a record low. 2Q24 deliveries were down 4.8% YoY to 444,000 units.

We maintain our FY24e revenue estimates but reduce PATMI by 6% to reflect further margin headwinds due to soft pricing and EU tariffs on China exports.

Our DCF target price is cut to US$135 (prev. US$145). We downgraded to SELL from REDUCE. Our WACC/growth rate assumptions of 9%/4% remain unchanged.

Source: Phillips

https://www.poems.com.sg/stock-research/TSLA/

[behappyalways]

It's hard to call $TSLA anything but a car company when this much revenue comes from selling vehicles
https://x.com/Mayhem4Markets/status/1816443951626301595

[behappyalways]

Morgan Stanley's Adam Jonas Crowns Tesla 'Top Pick' In US Autos, Dethroning Ford
https://www.zerohedge.com/markets/morga ... oning-ford

[behappyalways]

Musk is undermining Tesla’s leading position!
Tesla will not only lose its leading position in the Chinese and European markets but may also lose the US market?

馬斯克正在削弱特斯拉的龍頭地位！特斯拉不只失去中國、歐洲市場的龍頭地位，連美國市場也可能失去？【Yahoo TV #風向龍鳳配】

https://m.youtube.com/watch?v=0pvCsaZo2AY

[behappyalways]

Following the U.S.! Canada raises taxes on mainland-made electric cars by 100%, hurting Tesla

跟進美國!加拿大對陸製電車加稅100% 特斯拉受創｜方念華｜FOCUS全球新聞 20240827 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=bf4h8A8Nzuc

[behappyalways]

X platform is blocked. Starlink is in danger!
Musk challenged the Brazilian court and refused to delete far-right speeches

X平台被封.星鏈危殆!馬斯克槓巴西法院 拒刪極右言論｜方念華｜FOCUS全球新聞 20240903 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=fSlVj44Ebk0

[behappyalways]

"Due To Popular Demand": Tesla Announces Full Self-Driving Coming To China, Europe In Early 2025
https://www.zerohedge.com/technology/du ... early-2025

[behappyalways]

MORGAN STANLEY: “.. Tesla continues to surrender EV share coming to 14%
globally, vs. 20% share in June and 17% share on a YTD basis.” [Jonas]
https://x.com/carlquintanilla/status/18 ... 3369672950


Chinese car buyers are shunning #Tesla
https://x.com/ChinaBeigeBook/status/1832426545941549524

[behappyalways]

Biden's FAA Punishes SpaceX, Delays Starship Rocket Launch By Months
https://www.zerohedge.com/technology/bi ... yed-months

[behappyalways]

Tesla Robotaxi Prototype Reportedly Maneuvering Around LA Studio
https://www.zerohedge.com/technology/te ... -la-studio