[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5381 followers Created: 2025-07-21 17:55:03 UTC $TSLA Attached is page X of a 13-page Bank of America analyst report on TSLA issued today entitled: "Tesla, GM, Ford: 2Q25 Preview" Bank of America has a 'Neutral' rating on TSLA with a $XXX price target. Bank of America's summary statement regarding TSLA in the report includes the following: "F better positioned than GM, TSLA is in a challenging spot: As 2Q25 earnings season is right ahead of us, we revise TSLA, GM, and F estimates. We see F better positioned relatively to GM given that F may be able to capitalize on strong sales while GM may face some mix headwinds in the quarter. The different magnitude of tariff impact is likely to play a role as well between the two companies. Tesla is the most challenged among the three OEMs given disappointing deliveries, IRA incentives phasing out, and tariffs. The Robotaxi launch is a positive for the story, but it has immaterial financial ramifications in the immediate term. Tesla: 2Q results likely to be challenged: Tesla 2Q earnings results are likely to be challenged due to tariffs and disappointing deliveries. Although Tesla produces all its vehicles in the US and it manufactures vehicle with a high proportion of content made in North America, the exposure to tariff is not insignificant. Tesla relies on batteries made in China, particularly for its battery business. 2H25 is likely mixed because 3Q25 may benefit from demand pull forward in the US while 4Q25 may be challenged due to the phase out of IRA incentives. On a more positive note, TSLA did start its Robotaxi service in Austin, TX. This gives us more confidence on the promise to deliver unsupervised FSD by the end of 2025. Reiterate Neutral. -- Price Objective Basis: Our PO of $XXX is based on our sum-of-the-parts (SOTP) analysis. We value its Automotive business at 8.5x EV/EBITDA on our LT EBITDA forecast. This is in range of where peers have traded. For Robotaxi, FSD, Optimus and Energy Generation & Storage, our valuations are based on DCF analyses built out until 2040 to develop a steady state. For Robotaxi, we use a XXXX% WACC and LT growth rate of 4%. For FSD, we use a XXXX% WACC and assume LT growth of X% in auto deliveries, a X% scrappage rate and X% growth in the annual FSD subscription rate. We also assume the international market is comparable in size to the US. For Optimus, we use an XXXX% WACC and assume a XX% LT penetration rate in US manufacturing and XX% in US households. For Energy, we use an XXXX% WACC and LT growth rate of 3%. -- Downside risks: 1) increased competition from incumbent OEMs and low cost competition from China, 2) weakness in demand for EVs, 3) product launch delays, 4) change in regulation and incentives for EVs, 5) new government policies that are less favorable than expected for robotaxi, FSD, etc., 6) advancement of hybrid powertrains or other technology, 7) execution, 8) loss of management. -- Upside risks: 1) better execution and cost containment, 2) licensing of FSD to other OEMs, 3) capital raise, which would help accelerate growth, 4) sharp/sustained rise in gasoline prices, 5) a breakthrough in advanced battery technology, 6) increase in federal or state incentives, 7) short covering." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [ford](/topic/ford) [united states](/topic/united-states) [bank of](/topic/bank-of) [$tsla](/topic/$tsla) [tesla](/topic/tesla) [stocks consumer cyclical](/topic/stocks-consumer-cyclical) [stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries) [bank of america](/topic/bank-of-america) [Post Link](https://x.com/CorleoneDon77/status/1947354651822854278)
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DonCorleone77 @CorleoneDon77 on x 5381 followers
Created: 2025-07-21 17:55:03 UTC
$TSLA
Attached is page X of a 13-page Bank of America analyst report on TSLA issued today entitled:
"Tesla, GM, Ford: 2Q25 Preview"
Bank of America has a 'Neutral' rating on TSLA with a $XXX price target.
Bank of America's summary statement regarding TSLA in the report includes the following:
"F better positioned than GM, TSLA is in a challenging spot:
As 2Q25 earnings season is right ahead of us, we revise TSLA, GM, and F estimates. We see F better positioned relatively to GM given that F may be able to capitalize on strong sales while GM may face some mix headwinds in the quarter. The different magnitude of tariff impact is likely to play a role as well between the two companies.
Tesla is the most challenged among the three OEMs given disappointing deliveries, IRA incentives phasing out, and tariffs. The Robotaxi launch is a positive for the story, but it has immaterial financial ramifications in the immediate term.
Tesla: 2Q results likely to be challenged:
Tesla 2Q earnings results are likely to be challenged due to tariffs and disappointing deliveries. Although Tesla produces all its vehicles in the US and it manufactures vehicle with a high proportion of content made in North America, the exposure to tariff is not insignificant. Tesla relies on batteries made in China, particularly for its battery business.
2H25 is likely mixed because 3Q25 may benefit from demand pull forward in the US while 4Q25 may be challenged due to the phase out of IRA incentives. On a more positive note, TSLA did start its Robotaxi service in Austin, TX. This gives us more confidence on the promise to deliver unsupervised FSD by the end of 2025. Reiterate Neutral.
-- Price Objective Basis:
Our PO of $XXX is based on our sum-of-the-parts (SOTP) analysis. We value its Automotive business at 8.5x EV/EBITDA on our LT EBITDA forecast. This is in range of where peers have traded. For Robotaxi, FSD, Optimus and Energy Generation & Storage, our valuations are based on DCF analyses built out until 2040 to develop a steady state.
For Robotaxi, we use a XXXX% WACC and LT growth rate of 4%. For FSD, we use a XXXX% WACC and assume LT growth of X% in auto deliveries, a X% scrappage rate and X% growth in the annual FSD subscription rate. We also assume the international market is comparable in size to the US. For Optimus, we use an XXXX% WACC and assume a XX% LT penetration rate in US manufacturing and XX% in US households. For Energy, we use an XXXX% WACC and LT growth rate of 3%.
-- Downside risks:
- increased competition from incumbent OEMs and low cost competition from China,
- weakness in demand for EVs,
- product launch delays,
- change in regulation and incentives for EVs,
- new government policies that are less favorable than expected for robotaxi, FSD, etc.,
- advancement of hybrid powertrains or other technology,
- execution,
- loss of management.
-- Upside risks:
- better execution and cost containment,
- licensing of FSD to other OEMs,
- capital raise, which would help accelerate growth,
- sharp/sustained rise in gasoline prices,
- a breakthrough in advanced battery technology,
- increase in federal or state incentives,
- short covering."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
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