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Tesla Daily: Tesla News & Analysis

Analyst Interview: Dan Galves of Wolfe Research (02.23.20)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tech News, Technology, News

4.81.1K Ratings

🗓️ 23 February 2020

⏱️ 53 minutes

🧾️ Download transcript

Summary

YouTube link: https://youtu.be/cQ61E7cpWAc

Dan Galves, Director of Automotive Equity Research at Wolfe Research, has been covering TSLA since its initial public stock offering in 2010. In this interview, Dan joins Rob Maurer of the Tesla Daily Podcast for a discussion on Tesla's position in the automotive market, TSLA's surging stock price, institutional investor sentiment, autonomy, competition, and risks/opportunities for the stock and company.

Twitter: https://www.twitter.com/teslapodcast
Patreon: https://www.patreon.com/tesladailypodcast

Ludicrous producer Vincent Smith
Executive producer Rish Singh
Executive producer Nick Wood
Executive producer Fela Winkelmolen
Executive producer Troy Cherasaro
Executive producer Bradford Ferguson
Executive producer Andre Kent
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives

Transcript

Click on a timestamp to play from that location

0:00.0

Hey everybody Rob mower here and today we are with Dan Galves of Wolf Research Automotive

0:11.7

analyst here and you guys have been covering Tesla for of Wolf Research, Automotive Analysts, here.

0:13.0

And you guys have been covering Tesla for a while now.

0:16.0

I think your price target six something?

0:18.0

615.

0:19.0

615 right now.

0:20.0

How long have you guys been covering Tesla?

0:28.0

Well, I've been at Wolf for, you know, about 18 months now. We've been covering Tesla the whole time.

0:31.0

We actually cover the whole automotive industry industry like I work with a guy named

0:34.8

Rod Lash who was 25 years at Deutsche Bank he covers kind of more the legacy side of

0:40.2

the industry and I cover more that the tech side of the industry so I cover more the tech side of the industry so I cover

0:43.6

Tesla Neo Uber Lift and then a bunch of the kind of growthier auto supplier

0:50.0

so we're auto analysts but we try to take a kind of a broad view of the industry.

0:55.0

But we've, Rod and I were part of Tesla's IPO in 2010. Just a little bit of history. We actually wrote two reports on electrification of the vehicle in 2007 and 2008 and our conclusion was basically like this is a better technology and you know

1:19.0

once you can give the consumer enough driving range and once you can get the power train

1:25.5

costs down to the point where you know maybe the operating costs offset you know over a few years

1:31.6

your extra costs there's really no reason to buy anything else.

1:35.1

And we were way too early to talk about that.

1:40.0

And I think our forecast ended up like, you know, way too aggressive by mid-decade, but I think, you know, over time, we haven't really deviated from that view.

1:51.0

And it's really starting to look like it's the right view and so like I'm

1:57.6

glad to be talking to you now so essentially I've been covering Tesla since they came public in 2010.

2:05.0

Got it, okay.

...

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