- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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