After Tesla posted a surprise earning yesterday after the market closed with a $1.24 EPS & $5.90B revenue for Q1 2020, JMP Securities raises the price target of the EV maker to $1,020 from $840 also maintains with a Market Outperform.
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EV believer... TSLA shareholder ... Tesla Model3, ModelY, Cybertruck and TeslaSolar owner. CEO & Co-founder of www.Tesmanian.com
On September 23, California Governor Gavin Newsom signed an executive order to ban the sale of new gasoline-only vehicles starting in 2035. According to the order, all new passenger cars sold in California after the specified deadline must be zero-emission--a category that includes electric vehicles, hydrogen fuel cell vehicles, and plug-in hybrids that still use gasoline or diesel in addition to electricity.
Considering the improvements presented at Battery Day, the cost of producing Tesla batteries will be about $68/kWh. However, battery technology is constantly evolving, which may mean that at the moment, the cost of producing Tesla batteries may already be lower than presented by Cairn Energy. Considering this, we can safely assume that in 2-3 years, the cost could be significantly lower than 70$/kWh.