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How much does Tesla actually cost?



The above graph shows the percentage change in Tesla stock (white, top box), as well as the percentage change in the company’s earnings per share (EPS) forecast for 2020 and 2021 (blue and purple, respectively, bottom box) This year, Tesla stock entered S&P 500 index, which endowed the company with the status of a real blue chip. Now it remains to understand what exactly it is, and what its fair price is. Wall Street banks answer this question in different ways: Goldman Sachs believes that Tesla shares should be worth $ 780 apiece, Morgan Stanley – $ 540, and JPMorgan is confident that the red price for them is $ 90 (against the current $ 610 – approx. ProFinance.ru) … “It depends on what kind of advertising Elon Musk people believe in,” Jim Chanos, president and founder of hedge fund Kynikos Associates ($ 2.3 billion under management), told Bloomberg TV in an interview. * ProFinance.ru: Jim Chanos (among other things) is known for four things: a successful bid on a decline in Enron shares in 2001, a long-term short position in Hertz stock that was closed on the eve of the bankruptcy of the company, a short position in Wirecard stock that earned him $ 100 million profit, and a “painful” (according to Mr. Chanos himself) five-year short position in Tesla shares. Investors who believed in Musk’s promises to transform the auto industry have been rewarded: Tesla shares have surged more than seven times this year, and since the IPO in 2010, profits have been 18,000%. However, today investors are trying to understand how justified Tesla’s huge capitalization is, given the financial performance that is usually characteristic of tech companies with completely different business models. Specifically, Tesla’s price-to-earnings (P / E) ratio exceeds 1,000 today, while General Motors and FANG + companies (Facebook, Amazon, Netflix, Google, Apple, Alibaba, Baidu, Nvidia, Tesla and Twitter) is 14 and 53, respectively. So what is Tesla, a car company or a tech company, and how much should its stock be worth? Morgan Stanley and JPMorgan answer. Adam Jonas, Morgan Stanley Analyst: Our “fair” stock price for Tesla is $ 540, and it is structured as follows: $ 254 is in the company’s core automotive business, $ 154 is in network services business opportunities, $ 58 is for the prospects of becoming a battery supplier and transmissions for other manufacturers, $ 38 for mobility and carpooling business opportunities, $ 25 for insurance and energy businesses, and the remaining $ 11 for everything else. Ryan Brinkman, JPMorgan Analyst: After all, the value of an investment is equal to future discounted cash flows. Today, Tesla’s capitalization is almost twice the combined capitalization of Toyota and Volkswagen, but these companies sold 22 million vehicles last year, and their EBIDTA figure was $ 40 billion. Tesla can be compared with General Motors: this year Elon Musk’s company is expected , will sell 0.5 million vehicles, and GM will sell 6 million. Our target level for Tesla shares is $ 90, but even then its capitalization will exceed GM’s. MarketSnapshot – ProFinance.Ru news and important market events in Telegram Prepared by ProFinance.ru based on Bloomberg materials On the subject: Elon Musk fears that Tesla shares will collapse Tesla has bypassed Buffett’s company in market capitalization Six giant Tesla batteries will help the British to save “green” electricity Blaine Capital : Elon Musk is a charlatan, and Tesla shares will collapse to zero

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