Tesla “is rapidly creating an Apple-esque ecosystem of energy products, harmonized in electrification, to become The Brand in energy storage,” Dorsheimer said in a note to clients Monday. His US$1,071-a-share — up from US$419 previously — suggests almost 60 per cent upside for a stock that’s already gained nearly six-fold in the past year.
The company’s shares traded nearly 2 per cent higher at US$690.23 in early morning trading in New York. Tesla is tapping all available resources to meet battery demand, including in-house production at its Fremont site, production with partner Panasonic Corp. in Nevada and supply agreements with LG Chem Ltd., the analyst said. As supply constraints ease, the company will be able to meet demand for its Powerwall home storage, often paired with solar installations, he said.Article content