Market Overview

Tesla Shares Cross $900 As Piper Sandler Raises Price Target To Street High

Share:
Tesla Shares Cross $900 As Piper Sandler Raises Price Target To Street High

Tesla Inc (NASDAQ: TSLA) stock will go higher because of the electric car maker's ability to provide customers with the ability to generate and store the power to run its vehicles, according to a Piper Sandler analyst.

The Tesla Analyst

Piper Sandler's Alexander Potter raised the price target on Tesla from $729 to $928 per share, the highest among major Wall Street sell-side analysts, while reiterating an Overweight rating on the stock.

The Tesla Thesis

"We recently installed a solar system to use for charging a Model X," Potter wrote in a note. "The results have been illuminating so far."

Potter said Tesla will see growth beyond selling its electric vehicles in providing customers the ability to store their own solar power it to charge the cars.

"It's easy to forget that TSLA sells batteries and solar power products; after all, the segment was only 6% of sales in 2019,” the analysts wrote. “But management says that the solar+storage business will one day rival the Automotive segment, and if this is true, then investors will eventually need to pay attention."

TSLA Price Action

The move sent the stock higher yet again, fueling an already impressive rally that's seen Tesla's share price more than double in four months.

Tesla's stock was up more than 5.6% at time of publication, trading at $908.81 per share.

Related Links:

Elon Musk Not Happy About Bill Gates' Porsche Purchase, Calls Their Conversations 'Underwhelming' 

Tesla Model 3 Teardown Finds Technology Years Ahead Of Established Automakers

Latest Ratings for TSLA

DateFirmActionFromTo
Mar 2020Piper SandlerMaintainsOverweight
Mar 2020Morgan StanleyMaintainsEqual-Weight
Mar 2020Argus ResearchDowngradesBuyHold

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Alexander Potter electric vehiclesAnalyst Color Long Ideas Price Target Top Stories Analyst Ratings Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
SAICSunTrust Robinson HumphreyMaintains95.0
GPNSunTrust Robinson HumphreyMaintains165.0
FISVSunTrust Robinson HumphreyMaintains110.0
FISSunTrust Robinson HumphreyUpgrades140.0
WUNorthland SecuritiesMaintains15.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com