Tesla(US:TSLA) HTSC·2025-09-16 05:41Investment Rating - The report maintains an "Overweight" rating for the company [7] Core Views - The report highlights significant confidence in the company's long-term development, evidenced by Elon Musk's substantial share purchase of approximately $1 billion [1] - The company is expected to benefit from multiple catalysts in September, including increased visibility in automotive business, regulatory approvals, and upcoming software updates [1][3] - The successful launch of the Model YL in China, with over 120,000 orders in just 15 days, demonstrates the company's strong market position and product appeal [2] - The approval for Robotaxi testing in Nevada is seen as a critical step towards commercializing autonomous driving services [3] - The report anticipates a valuation paradigm shift driven by the company's leading AI capabilities and the potential rollout of Robotaxi, FSD, and robotics by 2025-2026 [1][12] Summary by Sections Automotive Business - The imminent cancellation of the $7,500 tax credit under the IRA is expected to boost sales in the U.S. market [2] - The Model YL's competitive pricing and features have positioned it as a strong contender in the market, appealing to a broader consumer base [2] Robotaxi and FSD Developments - The company received a permit for Robotaxi operations in Nevada, with plans to expand testing in Austin, Texas [3] - The upcoming FSD V14 version is projected to significantly enhance driving capabilities, potentially surpassing human drivers [3] Executive Compensation and Growth Plans - A new executive compensation plan aims to increase the company's market value from approximately $1 trillion to $8.5 trillion over the next decade [4] - Elon Musk's recent stock purchase further underscores his confidence in the company's future [4] Profit Forecast and Valuation - The report maintains previous profit forecasts and adjusts the price-to-earnings (PE) ratios for various business segments, leading to a target price of $508.26 [5][8] - The valuation reflects anticipated profits from FSD, Robotaxi, and robotics, with significant growth expected in these areas by 2030 [17][18]