Despite a wide 52-week range of about $150 to $300 per share, (NASDAQ: TSLA) is approximately flat over the last year, making it the worst-performing stock in the "Magnificent Seven".

Demand for electric vehicles (EV) has fallen, while supply has grown. Tesla is in a price war with competitors in the important Chinese market, pushing its profit margins lower. But one Wall Street analyst still sees growth ahead for the company, just not necessarily with Tesla's EV offerings.

RBC analyst Tom Narayan think Tesla's battery storage Megapack business could be worth "substantially more" than its car business. That has led him to rate Tesla stock a buy with a price target of $297 per share. That would represent a gain of 58% from where it trades as of this writing.

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Source Fool.com