Canaccord Genuity's Gianarikas: We may have seen the bottom for Tesla, positive acceleration to come

Financial Performance & Market Trends - Canaccord Genuity raises Tesla's target from $303 to $333, maintaining a buy rating [1] - Tesla experienced its worst year-over-year decline in Q2 [2] - The removal of EV tax credits by the end of Q3 could lead to a surge in US buyer demand [3] - Q2 may represent the bottom in terms of year-over-year declines for Tesla [4] Future Growth & Technology - The company anticipates significant earnings power beyond 2028, potentially exceeding $10 [7] - Robo Taxi's cost per mile is considered too low, limiting the total addressable market (TAM) in the US to approximately 24 billion miles unless the cost breaks to $025 per mile [5][6] - Tesla is reportedly successful in Austin with Robo Taxi, potentially meeting half the country's demand by year-end [9] - Tesla is projected to potentially build 100,000 robots per month by 2030, with an average selling price (ASP) of $50,000 to $100,000, representing a substantial growth driver [11] Energy Storage - There is a significant need for more batteries on the grid to bridge the energy gap [8]