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TSLA

Tesla

$1,493.85 /

-53.69 (-3.47%)

06:05
07/14/20
07/14
06:05
07/14/20
06:05

Tesla price target raised to $2,322 from $939 at Piper Sandler

Piper Sandler analyst Alexander Potter raised the firm's price target on Tesla to $2,322 from $939 and keeps an Overweight rating on the shares. The stock closed Monday down $47.59 to $1,497.06. Tesla is the "most consequential company in the mobility ecosystem, and this is unlikely to change in the next decade," Potter tells investors in a research note. As a result, the analyst does not recommend selling the shares despite the 260% rally year-to-date. His increased price target reflects faster than expected share gains and an analysis of Tesla's software opportunity. It's hard to see how competitors can catch up, says Potter, who believes that Tesla's own capacity is its biggest constraint to share gains.

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