Tesla managed to stage a charging-related coup of sorts recently, which played an important role in propelling the stock to fresh year-to-date highs. Now, the company is reportedly gearing up to add another feather to its charging cap if the latest news out of Germany pans out.
As a refresher, Tesla's NACS is set to become the dominant charging standard in North America after GM, Ford, and Rivian communicated their willingness to adopt the standard from late 2024/2025 onward. As per a recent tabulation by Piper Sandler, the EV giant is set to earn $3 billion in revenue from non-Tesla owners by 2030 from the widespread adoption of NACS.
$TSLA is reportedly in the process of acquiring German-based EV wireless charging company Wiferion. The company was founded in 2016 and develops an inductive charging system for electric vehicles and primarily for robots. https://t.co/TBUSQscl99
— notreload (@thudderwicks) June 22, 2023
Today, German publications are reporting that Tesla is gearing up to acquire the wireless EV charging company, Wiferion. Founded in 2016, the company specializes in manufacturing inductive charging systems for electric vehicles and robots. Wiferion has raised 15 million Euros in recent years via a number of funding rounds. According to the German portal Gründerszene, Tesla might acquire Wiferion at a price that is in the "mid to high double-digit million amount."
NEWS: Morgan Stanley's Adam Jonas has increased his $TSLA price target to $250 (from $200), and his bull PT to $450 (from $390).
"We see @Tesla as an AI beneficiary AND an auto company; While we move to EW, in our view, Tesla remains a 'must own' company in any EV portfolio" pic.twitter.com/reFU4pCZGV
— Sawyer Merritt (@SawyerMerritt) June 22, 2023
As stated earlier, Tesla shares have been on a tear recently. In fact, the rally has been so scorching-hot that Tesla permabull, Morgan Stanley's Adam Jonas, downgraded the stock recently to an equal-weight rating while increasing the price target to $250 per share. Bear in mind that Jonas' bear case target for the stock is now $90, while his bull case target is pegged at a whopping $450. The analyst noted:
"Some investors may feel inclined to play the positive momentum from here, but we believe the current price, at over 100x our FY23 US GAAP EPS forecast, discounts significantly more than Tesla as just a dominant EV company."
More shocking still, the permabull analyst appeared decidedly recalcitrant when discussing Tesla's AI potential:
"While we understand why Tesla gets a serious mention in an AI conversation, we believe a re-rating on this theme is in the realm of the non-disprovable bull case. Autonomous driving and generative AI still remain, in our view, two very different technological disciplines."
Tesla shares are up 144 percent so far this year.
Refference- https://wccftech.com
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