Piper Sandler Bumps Up Tesla Price Target By 4%

Piper Sandler analyst Alexander Potter raised the price target on Tesla Inc TSLA to $1,350 from $1,300 and reiterated an Overweight rating on the shares. The price target implies an upside of 57%.
The analyst forecasts 1.58 million deliveries in 2022, implying 69% growth versus 2021.
Model Y is the most significant near-term growth driver, while chip supply is the limiting factor, Potter notes.
He adds that while Tesla's gross margin "was a success story" in 2021, 2022 is hard to predict.
Potter says Tesla's cash flow "shields" it from macro uncertainty.
Price Action: TSLA shares traded lower by 2.21% at $841.00 in the premarket on the last check Monday.

Momentum31.74

Growth90.81

Quality51.56

Value10.71

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