Deutsche Bank says Tesla's announcement Thursday regarding stationary storage products may be more significant than the market anticipates. Deutsche has not factored any benefit from this market opportunity into its views on Tesla, and believes it could add $5 to its 2020 earnings per share estimate of $20. At a 20 price-to-earnings multiple, a $5 earnings boost would equate to $100 per share, Deutsche notes. The firm has a Buy rating on Tesla with a $245 price target.
Elon Musk says: "Regarding FSD Version 12, which is the pure AI-based self-driving, if you haven't experienced this, I strongly urge you to try it out, it's profound. And the rate of improvement is rapid. And we've now turned that on for all cars with the cameras and inference computer everything from Hardware 3 on in North America. So it's been pushed out to, I think, around 1.8 million vehicles, and we're seeing about half of people use it so far and that percentage is increasing with each passing week."
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here
Tesla (TSLA) is expected to report results on its fiscal first quarter on Tuesday, April 23, with a conference call scheduled for 5:30 pm EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here
Wells Fargo lowered the firm's price target on On Semiconductor (ON) to $95 from $110 and keeps an Overweight rating on the shares ahead of quarterly results. The firm anticipates On to deliver a Q2 guide slightly below expectations as it adjusts to Tesla-specific (TSLA) production softness specific to image sensor and SiC sales.