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Tesla Inc - Stock Quote TSLA

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Morningstar's Tesla Inc Stock Analysis

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No Changes to Our Outlook as Tesla Proposes 3-for-1 Stock Split; Shares Fairly Valued

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA |

On June 10, Tesla filed its notice of the 2022 annual meeting of shareholders, which will be held Aug. 4. One of the proposals was a 3-for-1 stock split, which would occur through a stock dividend. We think the proposal is likely to go through, as Tesla's board has previously approved a stock split with the goal to reduce the price of a single share. While a stock split does not change our enterprise valuation for Tesla, it would currently change our fair value estimate from $750 per share to $250 due solely to the new share count. While we think the split will likely be approved, we will wait until after the meeting in early August to update our fair value estimate. As such, our current $750 per share fair value estimate is unchanged. Our narrow moat rating is also unchanged.

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Tesla Inc's Company Profile

Business Description

Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla has multiple vehicles in its fleet, which include luxury and midsize sedans and crossover SUVs. The company also plans to begin selling more affordable sedans and small SUVs, a light truck, a semi truck, and a sports car. Global deliveries in 2021 were a little over 936,000 units.

13101 Tesla Road
Austin, TX, 78725
T +1 512 516-8177
Industry Auto Manufacturers
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 99,290

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