摩根士丹利分析師重申對特斯拉的增持評級 稱其為"終極電池資本支出遊戲"
格隆匯4月15日丨摩根士丹利分析師Adam Jonas重申了對特斯拉(TSLA.US)的增持評級和1300美元的目標價。Adam相信特斯拉在重新構建可再生能源/運輸業方面將發揮關鍵作用,而其傳統汽車業務與現有競爭對手相比具有天然優勢:1)直接面向消費者的優勢:特斯拉有一個持續的優勢,即能夠直接面向消費者,而傳統的汽車製造商卻被州經銷商特許經營法禁止這樣做。2)數萬億美元的電池資本支出週期:戰爭+通貨膨脹=能源創新,未來6個月市場對特斯拉所做的事情的看法可能會發生實質性的改變。我們估計在未來20年內必須花費多達20至40萬億美元的累積資本支出和研發費用,以實現脱離化石燃料,而這一數額的僅有1%已被花費,已被分配也不到3%。Adam説,"我們認為特斯拉是終極電池資本支出遊戲" , "我們估計將全球輕型汽車車隊100%轉為電動車+電網級/分佈式固定存儲模式所需的電池容量可能在20至40太瓦時(TWh)之間,取決於政策、技術和其他因素。按照8千萬美元每千兆瓦時的成本計算,僅電池製造所需的資本支出就可能在1.5至3萬億美元。這僅僅是電池製造,再加上上游採礦/精煉、下游電網升級、可再生能源供應、充電基礎設施和相關的汽車製造廠、回收、服務和支持,潛在支出可能在20年內達到10萬億至20萬億美元或更多。"
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