RBC Analyst Predicts Significant Upside for Tesla Stock Due to Megapack Business Potential
RBC Analyst Predicts Significant Upside for Tesla Stock Due to Megapack Business Potential
An RBC analyst believes Tesla's energy storage business, particularly the Megapack segment, could surpass the value of its electric vehicle business. The potential growth in the battery storage market could drive Tesla's stock price up by 60%, making it an attractive investment opportunity despite recent challenges in the EV space.
The renewable energy solution
Tesla CEO Elon Musk sees Megapacks as the solution to consistent and sufficient energy generation, especially with the increasing demand for electricity due to EV adoption. The energy generation and storage business segment, estimated to reach $90 billion by 2040, could become a significant revenue driver for Tesla.
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