The analyst said he expects delivery numbers to lead to greater profitability because of the transition from low-volume, high-price vehicles to high-volume, lower-price vehicles in the form of Tesla's Model Y and 3. 

Secondly, "the 4680 battery will open up capacity that will drive into the solar and storage market," he said. 

Lastly, the analyst compared Tesla to Apple Inc (NASDAQ: AAPL) in terms of brand value.

See also: Here's Why Alibaba, Plug Power And Tesla Are Moving

The Canaccord Genuity analyst told CNBC the way that Tesla looks at solving problems is fundamentally different.

"Tesla is bringing a machine gun to a knife fight," Dorsheimer said.

He expects that Tesla will continue to expand its lead in the EV sector. 

The Tesla Upgrade: Dorsheimer upgraded Tesla from Hold to Buy and raised the price target from $419 to $1,071.