Solar Update, JPMorgan Price Target, New Early Access Feature, BMW/Daimler (06.19.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 19 June 2020
⏱️ 8 minutes
🧾️ Download transcript
Summary
➤ JP Morgan analyst Ryan Brinkman increases price target on TSLA stock
➤ Tesla updates solar panel pricing and power
➤ Update to traffic light and stop sign control rolls out to Early Access program members
➤ BMW announces layoffs and change of strategy with Daimler
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Ludicrous producer Fred Hassen
Executive producer Rish Singh
Executive producer Jeremy Cooke
Executive producer Nick Wood
Executive producer Troy Cherasaro
Executive producer Bradford Ferguson
Executive producer Andre Kent
Executive producer Bryce Langlotz
Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Maower here and today we are talking about a new price target on Tesla stock from J.P. Morgan, some news on Tesla's solar offerings, as well as an update to |
| 0:15.8 | autopilot functionality. I am recording before closed today, but it looks like Tesla will probably |
| 0:20.0 | finish the day in the week, around a thousand dollars per share. |
| 0:23.0 | I figured since it's Friday we can start with the most humorous at least to me news of the day and that is a new |
| 0:28.0 | price target from J.P. Morgan Chase, analyst Ryan Brinkman on Tesla's stock. |
| 0:33.0 | Brinkman historically has been bearish on Tesla. |
| 0:35.4 | He had the lowest price target on the stock of the analyst that I was able to track |
| 0:38.6 | after Tesla's Q1 earnings report at $240 per share. He was one of the few analysts to not increase his price target |
| 0:45.4 | after that report. Well, today he has finally decided to increase that price target from $240 |
| 0:50.9 | per share all the way up to 275. This new price target would be 72% below where |
| 0:56.4 | Tesla trades today and would imply a $50 billion market cap. I expect Tesla's revenue in |
| 1:01.7 | 2020 to exceed $30 billion so this would imply a roughly 1.5 x price to sales ratio |
| 1:07.4 | which would only be about double the price to sales ratio of Toyota for example |
| 1:11.6 | which trades at about 0.66x price to sales, which doesn't make |
| 1:15.4 | a lot of sense when you compare the growth rates and profitability potential of the two companies. |
| 1:19.8 | To be fair, most of the other automakers are generally valued at a 0.1 to 0.4 x price to |
| 1:26.0 | sales ratio so Tesla would be quite a bit higher than that even in this bearish |
| 1:30.0 | scenario but on the other end you have a company like Amazon, which I personally like a lot as a comparison for Tesla, they currently trade at 4.5 time sales. |
| 1:38.5 | And that's obviously at a different point in time in history where they have completed a lot of the growth that Tesla still has to gain. |
| 1:44.4 | Right now Tesla's trading at about six times sales if we assume more than 30 billion in |
| 1:48.4 | revenue this year. So despite the small press target increased, |
| 1:51.5 | J.P. Morgan is still very bearish on the company |
... |
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