Piper Sandler analysts Alexander Potter and Winnie Dong raised their one-year price target on the stock by almost $200 - to $928 a share from $729. The target price from the Piper Sandler analysts makes it the most bullish Wall Street estimate to date.
In a research note to clients, Potter and Dong pointed to their own experience of recently installing a solar-based system to use for charging a Model X, calling the results to date “illuminating.”
“It’s easy to forget that TSLA sells batteries and solar power products; after all, the segment was only 6% of sales in 2019,” analysts Potter and Dong wrote in their note. “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.”
On Tuesday, Morgan Stanley boosted its bull case price target to $1,200.
Analysts at Morgan Stanley reversed their bear case against the electric vehicle company and turned bullish with an increased price target that represents a 50% upside from the stock’s closing price on Friday.
Jim Cramer weighs in on what investors on investing apps, such as Robinhood, need to see from Tela before they pull the trigger and buy.
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