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