Electric Vehicle Pioneer May Take to the Skies, Analyst Suggests
A prominent Wall Street analyst is hinting that Tesla, the pioneering electric vehicle manufacturer, may be poised to venture into the aviation sector. Adam Jonas, a seasoned analyst at Morgan Stanley, has been tracking subtle cues from Tesla’s CEO Elon Musk that could signal the company’s entry into the eVTOL (electric vertical takeoff and landing) or drone market.
During Tesla’s recent earnings call, Musk emphasized the inevitability of electrified transportation, encompassing not only cars but also aircraft and boats. Furthermore, Musk highlighted the limited drone-manufacturing capacity in the US compared to China, sparking speculation about Tesla’s potential foray into this space.
Jonas currently maintains a price target of $310 for Tesla, excluding any potential valuation associated with an aviation venture. However, if Tesla were to successfully enter the eVTOL or drone market, Jonas estimates that it could add a staggering $100 to $1,000 per share to the company’s stock price.
Tesla is currently in the midst of a transformation, shifting its focus from being solely an electric vehicle manufacturer to a more comprehensive AI and robotics company. The company has been investing heavily in autonomous driving, robotaxis, and humanoid robots, signaling a significant expansion of its product offerings.
The company’s upcoming event on October 10, where it will unveil its dedicated robotaxi service, is highly anticipated. Musk has postponed the event to incorporate crucial improvements and showcase additional innovations, fueling speculation about Tesla’s future plans.
As Tesla continues to push the boundaries of electric transportation, its potential entry into the aviation sector could have far-reaching implications for the industry and investors alike.
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