Tesla Analyst Expects 'Game-Changing' Battery Day Announcements

Tesla Inc TSLA has finally confirmed its Battery Day will held along with an Investor Day on Sept. 22.

Although it's early, a Wedbush analyst gave their take Monday on how the event will impact Tesla shares, which are already trading at a record high — and what can be expected out of the event.

The Tesla Analyst: Daniel Ives has a Neutral rating on Tesla with a $1,250 price target.

Tesla's Battery Day a Major Catalyst: Aside from the second-quarter print July 22, Tesla's Battery Day will be a major positive catalyst for the stock, Ives said in a Monday note. (See his track record here.)

The analyst expects the company to announce a number of new potential "game-changing" battery developments at its highly anticipated Battery Day.

The technology innovations around Gigafactories and Fremont remain the key ingredients in Tesla's success on the battery front, he said. 

Ives On Tesla's Million-Mile Battery: Ives said he believes the company is getting closer to announcing a million-mile battery.

"In our opinion, this battery technology will be very advanced, potentially last for decades, withstand all types of weather/terrain and be another major milestone for the Tesla ecosystem," the analyst said. 

The battery would be able to support an electric vehicle for 1 million miles and represent a major step forward when competing against traditional gasoline-powered automotive competitors from both a return-on-investment and environmental perspective, he said. 

Wedbush also believes Tesla is working on a number of battery enhancements and new cells as part of its Giga 3 innovations in China, with a focus on storage/density capacity improvements.

The company could also be working on reducing battery production costs to the key $100/kWh threshold for achieving financial flexibility around pricing on current and future EV models with price parity, Ives said. 

Wedbush estimates Tesla will deliver 450,000 vehicles this year.  

TSLA: At last check, Tesla shares were jumping 8.18% to $1,671, and they hit a record intraday high earlier Monday.

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Photo courtesy of Tesla.