Connect with us

Published

on

Tesla (TSLA) is getting help from Wall Street with several analysts pointing to the stock now being at a buying opportunity level, which is helping to stop the bleeding.

As we reported on Monday, Tesla’s (TSLA) stock is taking a beating, and investors are asking the board to help with a share buyback program.

Investors started a petition to ask Tesla’s board to approve a share buyback program, and it now has over 5,000 signatures. There’s a chance that it could happen since Tesla CEO Elon Musk said last month that the board was considering a $5 to $10 billion share buyback program.

This would only be a small help, though, considering that Tesla has erased nearly $500 billion in market capitalization over the last three months.

But until the board decides on a buyback program, Tesla investors have to rely on another ally to help the stock: Wall Street. With the drop in stock price, several Wall Street analysts have issued notes to clients signaling that the stock is entering buying opportunity levels.

Adam Jonas, a Morgan Stanley analyst covering Tesla, sees almost 100% upside to Tesla’s stock at this price. He wrote in a new note to clients:

In a slowing economic environment, we believe Tesla’s ‘gap to competition’ can potentially widen, particularly as EV prices pivot from inflationary to deflationary. With respect to the IRA (Inflation Reduction Act) we believe Tesla is by far the best positioned OEM in terms of potential eligibility for consumer tax credits (up to $7,500/unit) and for Section 45x production credits (up to $45/KWh). The current price offers approximately 100% potential upside to our $330 price target which is the highest upside to target we have seen from Tesla in over 5 years.

Citi analyst Itay Michaeli also changed his tune on Tesla following the stock price decrease.

Michaeli upgraded Citi’s rating on Tesla’s stock to neutral, as he noted it now trades for an attractive near-term risk/reward profile.

Dan Ives from Wedbush Securities also came out with a new note on Tesla today with expectations for a strong Q4 with what he believes could be as many as 450,000 deliveries, which would be a major new record for Tesla.

Ives maintains a $250 price target on Tesla’s stock – representing a significant upside.

Tesla’s stock (TSLA) is up more than 5% this morning following the notes from the three Wall Street analysts.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Coterra’s smart pivot to oil from natural gas leads to an excellent first quarter and sweeter outlook

Published

on

By

Coterra's smart pivot to oil from natural gas leads to an excellent first quarter and sweeter outlook

Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts.

Paul Ratje | Afp | Getty Images

Coterra Energy topped Wall Street expectations Thursday with first-quarter results that further proved the Club holding’s nimble production strategy is the right one for shareholders.

Continue Reading

Environment

A fully-electric 10,000 ton container ship has begun service equipped with over 50,000 kWh in batteries

Published

on

By

A fully-electric 10,000 ton container ship has begun service equipped with over 50,000 kWh in batteries

Chinese state-owned company COSCO Shipping has launched what it calls the “world’s largest” river-to-sea electric container ship. The Green Water 01 is a 10,000-ton+ fully electric vessel that sets a new benchmark in sustainability in the marine logistics industry.

China Ocean Shipping (Group) Company, or COSCO for short, is a state-owned multinational conglomerate headquartered in Shanghai specializing in marine transport. Not to be confused with Costco, COSCO Shipping was founded as a subsidiary in 2016 following an approved merger between COSCO and China Shipping.

The COSCO Group is the largest liner carrier in China, transporting hundreds of container vessels daily while also providing ships to Chinese automakers to help them export their electric vehicles to new markets overseas, including Europe.

To adapt to the times, COSCO has developed a massive, fully electric container ship, which has now officially begun service in China.

Electric container ship
Source: COSCO/WeChat/CCTV

COSCO’s electric container ship begins service in China

According to a WeChat post from COSCO Shipping, which features reports from China’s CCTV, the company’s Green Water 01 electric container ship arrived safely and was berthed in the Port of Yangshan by the local maritime safety administration.

The Green Water 01 sails at a total length of 119.8 meters, a molded width of 23.6 meters, a molded depth of 9 meters, a design draft of 5.5 meters, and a maximum speed of 19.4 km/h (12 mph). COSCO Shipping says the Green Water 01 electric container ship presents multiple firsts for the marine industry, including total length, width, container capacity, deadweight tonnage (10,0000 tons), and battery capacity (50,000+ kWh).

Speaking of batteries, the electric container ship is powered by a large-capacity battery combining for over 50,000 kWh. However, COSCO says the number of battery modules can be configured depending on the length of the voyage at sea. For example, additional 20-foot battery boxes offering 1,600 kWh of electricity can be loaded onto the container for extra range.

This ship’s captain, Wang Jun, told CCTV that when the Green Water 01 is equipped with 24 battery boxes, the electric container ship can complete trips that consume 80,000 kWh of energy, equivalent to approximately 15 tons of fuel for a similar journey in a traditional container ship.

COSCO Shipping also shared that the new Green Water 01 can save 3,900 kg (8,600 pounds) of fuel for every 100 nautical miles traveled, cutting carbon dioxide emissions by 12.4 tons. Following the successful launch, the Green Water 01 has commenced weekly service between Shanghai and Nanjing.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The 2024 Chevy Blazer EV has a quirky $4k discount for Tesla drivers

Published

on

By

The 2024 Chevy Blazer EV has a quirky k discount for Tesla drivers

Chevy is offering a $4,000 discount for owners and lessees of Teslas and other EVs for the 2024 Blazer EV but with some quirky conditions.

Chevrolet’s conquest bonus cash offer doesn’t require a trade-in and can be transferred to household members, so that’s nice.

The $4,000 discount applies to both 2024 Chevy Blazer EV leases and purchases and according to CarsDirect, it can be stacked with other deals, such as the $7,500 tax credit and the $1,000 Costco member-only incentive.

Chevy also offers a $2,500 EV Loyalty Cash Allowance for current owners or lessees of a 2017 or newer Chevy Bolt or Bolt EUV.

All of that adds up to a nice price reduction for an EV with a base price in the mid-$50s.

But here’s where it gets a little quirky. As for which EVs you or your household members drive to qualify for the $4,000 discount, Tesla, of course, is on the list. So are Lucid, Rivian, and Fisker. CarsDirect notes that the Honda Fit EV qualifies, but the Hyundai IONIQ Electric doesn’t. Okayyy. So you’ll have to check with a dealer for your EV’s eligibility.

The $4,000 offer is also only being offered in what seems to be a somewhat random list of cities:

  • Albuquerque
  • Birmingham, Alabama
  • Charleston, West Virginia
  • Charlotte
  • Chicago
  • Dallas
  • El Paso, Texas
  • Greensboro, North Carolina
  • Greenville, South Carolina
  • Harrisburg, Pennsylvania
  • Huntsville, Alabama
  • Jacksonville
  • Little Rock
  • Mobile, Alabama
  • Norfolk, Virginia
  • Orlando
  • Richmond, Virginia
  • San Antonio, Texas
  • San Francisco
  • Savannah, Georgia
  • Tampa
  • Washington, D.C. 

So if you want this deal and you don’t live in any of the above, then a road trip may be on the cards. (Atlanta and Santa Fe folks, I’m looking at you.)

And if that’s not possible, you’re not out of luck. If you want to lease, Chevy is offering $3,250 in lease cash for the Blazer EV in other parts of the US, and that’s open to everyone, regardless of what you or your household members drive.

The $4,000 conquest bonus cash deal is available from May 1 to June 3, 2024.

Read more: Chevy Blazer EV first drive – is it worth its $56k base price?

Click here to find a local dealer that may have the Chevy Blazer EV in stock. –affiliate*


 Now is a great time to begin your solar journey so your system is installed in time for those sunny spring days. If you want to make sure you’re finding a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage. EnergySage is a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

    Your personalized solar quotes are easy to compare online, and you’ll get access to unbiased energy advisors who will help you every step of the way. Get started here. –affiliate*

    FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending